Law : Finance Companies Control Law.

Finance laws : Real Estate Finance Law, Finance Lease Law and Finance Companies Control Law.

Regulations : Implementing Regulation of the Finance Companies Control Law.

SAMA : Saudi Arabian Monetary Agency.

Governor : Governor of SAMA.

Finance company : A joint stock company licensed to engage in finance activities.

Borrower : A person receiving finance.

Consumer : A person to whom finance services are offered.

License : A license issued by SAMA to a company to engage in finance activities.

Finance activity/activities : One or more types of finance activities stated in Article 10 of the Law or any other finance activities approved by SAMA pursuant to the same Article.

Finance : Extending credit under contracts for activities stipulated in the Law and Regulations.

Finance contract : A contract by which the finance company extends credit for activities stipulated in the Law and Regulations.

Installment : The total amount payable by the borrower distributed over the term of the finance contract, excluding non-recurring expenditures, expenses and costs such as charges, commissions and administrative fees.