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Client awareness

Masar Finance seeks to enhance the role of financial and financing awareness for customers in order to provide the highest standards of protection for customers' rights, which enables them to know their rights and deal with the highest levels of credibility and transparency.

Principles of protecting customers of financing companies

The Central Bank of Saudi Arabia (SAMA) plays a supervisory role over the financial and banking sector in the Kingdom, including the financing companies sector. This is to ensure the protection of clients' interests and to ensure that financial institutions deal with them in a professional and fair manner. The principles of protecting customers of finance companies come within the control instructions issued by the Central Bank on a regular basis and aim to ensure that the customer obtains a fair, impartial and transparent treatment as well as educating him about his rights and responsibilities when obtaining financial services and products, and ensuring that these services and products reach him in a clear, easy and convenient manner at an appropriate cost and quality. high .


Bank / Sama

The Central Bank of Saudi Arabia is the legislative body for the financial sector in the Kingdom of Saudi Arabia


A credit information company authorized to collect credit information

Company /  Masar Finance Company

Masar Finance Company

client / customers

The natural person(s) who have or are directed to the company's products and services

financing systems

The real estate finance system, the financial lease system, and the financing company control system .


Disseminate the principles of financial guidance and the ability to understand the main financial terms used by financial institutions and then distinguish between the various products or services provided by these institutions .


Disclosure of information and data clearly, transparently and credibly, and refraining from withholding any information that may be influential or of importance. to any of the parties to the financing agreement

conflict interests

Cases affected by the objectivity and independence of the decision of the finance company or one of its employees resulting from its conflict with the interests of the company and non-compliance with fairness, integrity and responsibility


A commercial message promoting, by any means, a financial product or service, directly or indirectly .


Obtaining a recommendation or advice from a qualified individual or entity after taking into account the client's personal circumstances and goals .

means communication Guaranteed

Registered mail, manual delivery, and any registered electronic means that can be verified and retrieved


Granting credit by contracts for the activities stipulated in the Finance Companies Control Law and its implementing regulations

agreement financing

An agreement whereby credit is granted for the activities stipulated in the Finance Companies Control Law and its implementing regulations .

amount financing

The maximum or total amounts available to the customer under the financing agreement .

an average The ratio annual

The discount rate at which the present value of all installments and other payments owed by the customer, which represents the total amount payable by the customer, is equal to the current value of the financing amount payments available to the customer, on the date on which the financing amount or the first payment thereof is made available to the customer .

attribution to party third

An arrangement whereby a third party (a service provider, for example) is informed to provide a service that was previously performed by the finance company itself or a new service that it intends to start providing. With compliance with the requirements of the regulations, regulations and instructions issued by the Central Bank of Saudi Arabia “SAMA” in this regard .

employee / staff

Every natural person who works for the interest of the company and under its management or supervision in return for a wage, whether at the company's headquarters or outside it, including employees contracted directly or contracted with them through attribution .

The error

Any action that leads to a violation of the documented policies and work procedures of the company, in addition to a violation of regulations and instructions that affect the rights or interests of one or more customers.

The complaint

Every objection or grievance submitted to the financing company as a result of any breach that leads to its non-compliance with the provisions of the financing agreement and/or the relevant regulations and instructions

to treat The complaint

Follow effective measures and procedures to deal with customer complaints and address them within the specified period .


v  First: general principles

1.        Fair and equitable treatment

The  Masar Finance Company is committed to dealing fairly, honestly and equitably with customers at all stages, and fulfilling obligations under the financing regulations and their implementing regulations and other relevant instructions issued by the Saudi Central Bank “SAMA ”.

2.       Disclosure and transparency

The Masar Finance Company is committed to updating information on financing products and services provided to customers, in a clear and concise manner that is easy to understand, accurate and not misleading, and its main conditions and features can be viewed on the website .

3.       Financial education and awareness

Masar Finance Company is committed to spreading financial culture and developing the skills of current and future customers on how to obtain financing products or services appropriate to their needs, raising their level of awareness and guidance, enabling them to understand the basic risks, assisting them in making informed and effective decisions, and directing them to the appropriate party to obtain information in case their need for that.

4.        Work behaviors and ethics

The  Masar Finance Company is committed to working in a professional and responsible manner to provide its services with honesty and transparency and to carry out its duties with high quality in a timely manner in a manner that takes into account the interests of its customers throughout the period of the contractual relationship .

5.        Fraud protection

The  Masar Finance Company is committed to applying the maximum control measures and security measures to follow up on financing operations and protect them from fraud or illegal use through the use of clear procedures and automated systems that enable them to reach this goal .

6.        Protect information privacy

The  Masar Finance Company is committed to protecting its clients’ financial and personal information, preserving its privacy, and not using it except for specific and legal professional purposes and with the client’s approval, and not disclosing it to any third party without a permit from the Central Bank .

7.        Handling complaints

Masar Finance Company is committed to providing an appropriate and easy mechanism for customers to submit their complaints so that the mechanism is fair, clear and effective, through which complaints are followed up and dealt with without delay in accordance with the instructions of the Central Bank.

8.        The competition

Masar Finance Company is committed to helping its customers to search and compare the best services and products, their prices and providers, by providing and disseminating appropriate information about these services that help customers make the right decision.

9.        Attribution to a third party

Masar Finance Company is committed to ensuring that the third parties to whom tasks are assigned comply with the requirements of these principles and that they work in the interest of their clients .

10.   Conflict of interest

Masar Finance Company is committed to applying a conflict of interest policy to detect potential cases that may lead to a conflict of interest, and when one of these cases arises, the company will disclose the origin of the conflict to the client.

11.   adequate resources

Masar Finance Company is committed to exerting the necessary care to provide sufficient human and operational resources necessary to carry out its business and serve its customers in all regions of the Kingdom in which it is located, and to provide appropriate customer service centers and various channels to communicate with them.

v  Second: mutual responsibilities

1.        Honesty when providing information

The customer is obligated to provide complete and accurate information when filling out any forms for the company, and he is also obligated not to provide misleading, wrong or incomplete information and to update the data when needed .

2.       Read all information provided by the financing company

The customer is obligated to read all the details that explain the obligations incurred by him in return for obtaining the financing product or service. Ensure his understanding of these obligations and his ability to abide by their terms .

3.        ask questions

The customer is obligated to inquire if any clause or condition is not clear in the financing agreement or any other documents provided to him by the company. And ask questions to the employee, and the  Masar Finance Company is committed to answering these questions in a clear professional manner that helps the customer to make the appropriate decision .

4.       Verify the details of the financing agreement

The customer is obligated to ensure that the issued copy of the financing agreement includes all basic information, such as: his personal data, the amount of financing, the annual percentage rate, and a summary of the financing agreement. It also includes all annexes to the agreement such as the payment schedule, the attached declarations, and others .

5.        Complaint submission mechanism

The customer is obligated to understand the mechanism of submitting a complaint, including escalation to higher levels, and to use it when necessary. At the beginning of the contractual relationship, the  Masar Finance Company is obligated to provide the necessary information and data to the customer that explains the mechanism for submitting a complaint. Like :

(Numbers, addresses, and channels of communication for submitting and following up the complaint, as well as the time frame for informing the client of the outcome)

6.        Use of the financing product or service in accordance with the terms and conditions

The customer is obligated not to use the financing product or service except in accordance with the terms and conditions associated with it, after ensuring that they are fully understood .

7.        Not being exposed to risks

The  Masar Finance Company is committed to clarifying the risks associated with some financing products or services in writing to the customer, and the customer should not purchase any financing product or service when he feels that the risks are not commensurate with his financial situation .

8.        Obtaining products and/or services that meet needs

The customer is obligated to disclose all his financial obligations with all parties, and that he can fulfill his obligations after obtaining the required financing product or service, and the  Masar Finance Company will ensure that the product / service is suitable for his needs .

9.       Reporting irregular operations

The customer is obligated to inform the  Masar Finance Company immediately upon discovering any irregular procedures related to the product or service provided, and the  Masar Finance Company is committed to taking all necessary corrective measures to address the issue and ensure that it does not recur in the future .

10.   The customer encounters financial difficulties

The customer is obligated to contact the  Masar Finance Company to request advice in the event that he encounters financial difficulties that make him unable to do so To assume the obligations of the financing product or service, and the company will discuss the options available to him in accordance with his financial situation .

11.   Update personal information

: phone numbers, mobile phone numbers, P.O.

The client is responsible for not providing the company with updated information upon request and the implications thereof. The client is also obligated not to provide the company with other numbers or addresses that do not belong to him, such as friends or relatives, as this may lead to the disclosure of his financial information .

12.   The official agency

The client is obligated to be careful when granting an official power of attorney to another person to complete his financial transactions, and he must know the risks when granting it .

13.   incomplete forms

The customer is obligated to ensure that all required fields and numbers are completed in the forms submitted to the customer for signature. He shall not sign blank or incomplete forms .

14.   models

The customer is obligated to review all the information he wrote down in the forms to ensure that the information is correct, and he must know that his signature on the forms means his approval of the content of the form and his acknowledgment of the validity of what is stated therein .

15.   Do not disclose your personal information

The customer is committed to his responsibility not to disclose any personal or financial information to any party other than the company and under any circumstances. Massar Finance will continuously educate its customers about the importance of saving information .

16.   Pay the monthly payment

The customer is obligated to pay the monthly installment due on its date without delay, as delaying payment beyond its due date is considered a breach of the agreement, and entails an increase in burdens .

17. Preserving the financing asset and responsibilities before the official authorities

The customer is committed to preserving the financing asset, and is responsible for any misuse before the official authorities .

v  Third: Main Obligations

Without prejudice to the provisions of the financing regulations and their implementing regulations issued by the Central Bank, Massar Finance Company is committed to the details of the regulations related to the financing product or service mentioned in this section, which support the general principles of customer protection, as follows :

1.       Terms and conditions :

  • Providing updated terms and conditions for the product or financing service to the customer, whether through brochures/pamphlets or through other channels such as the website, and encouraging the customer to read them before starting the contractual relationship .
  • Include warning statements that clearly state the potential consequences that the customer may bear when using the financing product or service in violation of the terms agreed upon in the application form .
  • Include all terms and conditions in the application form and in the Arabic language, provided that the wording is clear, understandable and not misleading, with an English copy provided in case the customer requests that .
  • Informing the client, through secured means of communication, of any change in the terms and conditions within (30 working days) at least before making any change .
  • Provide the possibility of objection to the customer if he does not agree with the changes in the terms and conditions within (10 working days) after receiving the notice of the changes, and the notice should include the objection period, duration and procedures .

2.         Fees, commissions and pricing :

  • Not to make any change in the fees and commissions that customers have to pay after signing the financing agreement, including fees and commissions related to external service providers .

3.         Data and information protection and confidentiality :

  • Take all necessary measures to ensure that the company's employees maintain the confidentiality of customer data and ensure that they do not disclose financial and personal information to customers and limit access to it to only authorized persons within the company .
  • Implementation of a code of conduct for employees assigned roles that include sales and marketing of financing products and follow-up and collection of non-performing financing accounts. Where the regulation prohibits the following :
  • Any contact with the defaulting client's relatives, neighbors, colleagues or friends, or a visit to his place of work, for the purpose of requesting or conveying information about the client's or guarantor's financial solvency.
  • Any communication (written or verbal) to the customer or guarantor conveying incorrect information about the consequences of defaulting on their obligations to the financier
  • Any communication with the defaulting customer using envelopes written on the outside indicating that they contain information for debt collection
  • Any violation of the confidentiality of client information, conflict of interests and professional values .

4.         Communication through advertising and marketing :

  • Communicate with customers using at least two of the preferred means of communication for customers - including but not limited to - e-mail, registered mail, text messages and telephone .
  • Checking that the sent notification does not contain personal information related to other customers, when sending a notification or advertisement to more than one customer by e-mail or any other means of communication
  • Ensure that advertising offers or promotional materials that use promotional or starting prices indicate the expiration date of the effectiveness of these prices and the end of the offer .
  • Ensure that advertisements that include abbreviated symbols ( eg APR ) have their meaning explicitly explained .
  • Not to send marketing materials for financing products that carry risks that are not suitable for individuals under the age of (18 years).
  • Grant the right to customers permanently to refuse to receive these advertisements in easy ways
  • Ensure that the advertisement is professional and not misleading, and that it is clearly and clearly written, including the margins, provided that the phrases are in classical Arabic with the possibility of using other languages, and that the advertisement does not harm the interests of other companies or tarnish the reputation of the financial sector .

5.       before or at the conclusion of the financing agreement

  • Providing an appropriate system that enables the company to obtain the necessary information about customers to assess their needs for financing products and services and to present appropriate offers .
  • Provide consultation and advice to customers in choosing the financing product or service that is appropriate to their needs
  • Provide the customer (if requested) with a copy of the financing agreement before signing it and give him an appropriate period to view it
  • Ensure that there is a request from the customer through any of the secured means of communication, before granting new financing, and any increase or amendment in the financing agreement requires signing a new financing agreement or adding an appendix to the existing agreement .
  • Disclose to customers everything related to the required financing product or service and provide them with the basic terms and conditions of the financing product or service before concluding the financing agreement, including, for example, the following :
  • Fees, commissions, costs of administrative services and annual percentage rate
  • financing repayment period
  • Early repayment procedures
  • Procedures for terminating the financing agreement
  • Right of withdrawal procedures, if any
  • Obligations and duties of each party under the agreement
  • Any item that the company has the right to amend after the agreement comes into force
  • Any restriction or condition that may harm the client's interest
  • Complaint handling procedures
  • Disclosure to customers of the procedures for dealing with the financing agreement in the event of the death of the customer who was granted the financing
  • Disclosure to customers about any insurance coverage and the beneficiary of that coverage, as well as the mechanism for dividing compensation in the event of damage to the funded asset, so that the customer can make his decision to obtain financing or not.
  • Inform the applicant of the reason for rejection through secured means of communication within a maximum period of (5 working days), in the event that the financing company rejects the customer’s request to obtain any financing product or service before concluding the financing agreement.
  • Knowing the purpose for which the financing was obtained from the client and documenting that
  • Provide each contracting party with a copy of the financing agreement and all its appendices within a period not exceeding (10 working days) after the conclusion of the agreement.
  • Examining the credit record of the customer after his approval, to verify his financial solvency, and documenting that in his application file, and recording his credit information after his approval with the Credit Information Company (SAMA), in accordance with the provisions of the relevant regulations, regulations, and instructions, and updating that information throughout the period of dealing with the customer .

6.       After the conclusion of the financing agreement

  • Issuing a release letter to the customer and updating the customer’s credit record with the credit information company (Sama), in the event that the customer has paid the full amount of the financing and submitted all the necessary documents, within a maximum period of (7 working days) from the date of payment
  • Providing the customer with a free statement of transactions (electronic or paper) on a quarterly basis, showing the paid and remaining payments, if the customer requests that.
  • Providing the customer, upon his request, with a detailed statement of account, free of charge and without delay, that includes all fees, term costs and costs, including any additional costs, in the event of default or early repayment of the financing.
  • The company is committed not to take any illegal measures to recover the amounts due to it .

7.       Errors/crashes

  • The company is committed to returning any collected amounts that may arise due to an error/malfunction to the affected customer's account without delay and without waiting for a claim, and it is not entitled to benefit from it .
  • The company is obligated towards the affected customer to address the error/malfunction that led to his damage, as well as towards all other customers affected by the same error/malfunction, after communicating with them and informing them of the error/malfunction and the corrective actions that will be taken, and this is done within 60 working days .

8.       complaints

  • The company is committed to clarifying the mechanism for submitting a complaint to its customers at the company's headquarters, branches and outlets, as well as on the website, and providing a hard copy (if the customer requests it), along with an explanation of the mechanism and how to escalate it to other parties .
  • Upon receiving customer complaints, the company is obligated to do the following :
  • Notify the customer, through guaranteed means of communication, of receiving the complaint and informing him of the deficiencies (if any) within 5 working days
  • Providing the customer with the complaint number and contact information to follow up on the submitted complaint
  • Reply with the results to the client within a period not exceeding 10 working days from receiving the completed complaint
  • Documenting the channel used to communicate with the complainant and keeping its records .


9.       General Provisions

  • Putting the branch’s working hours in the main entrance and on the website, provided that it is committed to opening and closing according to the announced hours .
  • Taking into account humanitarian cases when dealing with clients who have emergency financial difficulties .
  • Non-discrimination in dealings between its clients (current and future) in an unfair and unfair manner based on race, gender, religion, color, age, disability, marital status, or any form of discrimination in various dealings .