SAMA Seeks Public Consultation on Draft Rules Governing Calculation of Annual Percentage Rate

The Saudi Central Bank (SAMA) seeks public consultation on the draft rules governing the calculation of the annual percentage rate (APR) whose aim is to improve the disclosure practices for consumers and standardize the mechanism for calculating the APR for financing products.

SAMA invites all stakeholders, including the public, to share their suggestions and observations on the draft for it to then assess their relevance before finalizing the ruling; they may do so within 15 days from this announcement by visiting the Public Consultation Platform at the National Competitiveness Center at https://istitlaa.ncc.gov.sa/ar/Finance/SAMA/GoverningCalculationOfAnnualPercentageRate/Pages/default.aspx