In detail .. the date of application of the responsible finance principles of banks and local banks

Local banks and banks plan to apply the principles of responsible finance, which will come into effect on the first day of Dhu al-Hijjah

The principles adopted by SAMA include all types of personal finance : Financing of vehicles, credit cards and real estate financing.

The financier must use models and financial instruments to measure the adequacy of funding to the needs and circumstances of the client, including the core banks. And others.

Talaat bin Zaki Hadaf said He stated that these principles will determine the value of the financing and the monthly payments according to the type of financing, the tolerance ratios and the credit capacity of the client.

The banks will evaluate the creditworthiness and credit record of the client who maintains With Saudi Credit Information Company, stating that the better the client's record, the better the financing will be.