The Saudi Central Bank (SAMA) has issued new rules for the issuance and Operation of Credit Cards, which will replace the 2015 regulations as of June 19, 2025. The rules apply to licensed issuers, including banks and finance firms, and cover all aspects of credit and charge card issuance and use.
Key changes include stricter disclosure of fees, a requirement for clear annual percentage rates (APRs), and mandatory upfront credit advisories for new cardholders. Card issuers must provide monthly statements at least three weeks before the payment due date and offer no-cost financial counselling when users miss three consecutive payments.
The rules set a minimum 5% repayment requirement and cap late-payment fees at SAR 100. They also require issuers to explain the reasons for applications or limit denials within one week and maintain detailed communication records.
SAMA’s initiative includes coordination with global card networks, such as Visa, Mastercard, UnionPay, and American Express, to review and revise transaction fees.
