Country Manuals Credits –
We would like to inform you that BRP has updated its COUNTRY MANUALS CREDITS for the following jurisdictions:
SAUDI ARABIA OUT OF CREDIT INSTITUTION’S COUNTRY OF ESTABLISHMENT (RT, BT & DEF)
| SOURCE OF CHANGES | ANSWERS |
| Law/Regulation | No |
| New Position of the Authorities | No |
| Evolution of Expert’s interpretation | No |
Regulatory Template
Material changes
We have reviewed the documents following consultations with our local counsel. We can confirm that there have been no relevant regulatory changes since the last publication of this Country Manual.
Non-material changes
The updated Country Manual now contains information on cross-border Shariah-compliance of credit services as well as information on the new Saudi Arabian Personal Data Protection Law.
Behaviour Template
The answers in the BT have been aligned to those contained in the RT.
Definitions and Concepts
The document Definitions and Concepts now includes a Concordance Table. This Table is designed to help the users of the Country Manual Credits easily recognize existing or potential interactions between the rules of different types of credits.
For more information, please contact us: info@brpsa.com
Best regards,