Social Development Bank Law

Release Date:	1427-06-01
Release Tool:	Royal Decree
Issuance Instrument Number:	m/34
Validity:	Valid
Date of last amendment:	1445-08-22
Summary:	By AI The text pertains to a royal approval of the Saudi Bank for Credit and Savings Law, where a royal decree has been issued approving the law aimed at providing interest-free loans to small enterprises and craftsmen, in addition to social loans for low-income individuals. The bank has a legal personality and independent financial liability, and is subject to the supervision of the Saudi Arabian Monetary Authority in accordance with Sharia Provisions. The authorized capital is six billion riyals, an...

Release Date:

1427-06-01

Release Tool:

Royal Decree

Issuance Instrument Number:

m/34

Validity:

Valid

Date of last amendment:

1445-08-22

Summary:

By AI

The text pertains to a royal approval of the Saudi Bank for Credit and Savings Law, where a royal decree has been issued approving the law aimed at providing interest-free loans to small enterprises and craftsmen, in addition to social loans for low-income individuals. The bank has a legal personality and independent financial liability, and is subject to the supervision of the Saudi Arabian Monetary Authority in accordance with Sharia Provisions. The authorized capital is six billion riyals, an...