TAILIEUCHUNG - LAW OF SAUDI CREDIT AND SAVINGS BANK

In implementing its program, NBD serves potential borrowers on site in the targeted area. The methodology for implementing SME credit programs departs from the traditional lending structure in Egypt both in terms of targeted types of borrowers and amounts involved. Upon simple and thorough studies of potential and small borrowers, adequate uncollateralized loans with appropri- ate repayment schedules are disbursed to clients to fulfil their credit needs. NBD has been chosen as a model for the Middle East which relies on Microfinance best practice techniques. The loans size varies from USD 40 to USD 1,600 and is determined after studying the. | Law of Saudi Credit and Savings Bank Royal Decree No. M 34 1 Jumada II1427 27 June 2006 Page 1 Article 1 The following terms and phrases wherever mentioned in this Law shall have the meanings given next to them unless the context requhes otherwise 1 Bank Saudi Credit and Savings Bank. 2 Minister Minister of Finance. 3 Board Bank s Board of Dhectors. Article 2 The Bank shall be of a corporate person and shall have an independent financial status giving it the right to ownership disposition and litigation in accordance with the provisions of this Law. Article 3 The Bank s headquarters shall be in the City of Riyadh. Branches may be established in other provinces of the Kingdom and agents or correspondents may be appointed in such provinces. Article 4 The Bank shall aim at the following a Providing interest-free loans to small and infant enterprises as well as to Saudi craftsmen and tradesmen to encourage them to run their own businesses and trades. 0 Providing interest-free loans for social purposes to low-income citizens to help them overcome their financial difficulties. c Assuming a complementing coordinating role in support of small and infant enterprises. Page 2 d Promoting savings and thrift by individuals and institutions in the Kingdom and creating instruments for achieving this purpose. Article 5 Without prejudice to its Law and the provisions of Shari ah the Bank shall be monitored by the Saudi Arabian Monetary Agency and shall be subject to the banking laws. Article 6 The Bank s authorized capital shall be six thousand miltion riyals to be paid by the Ministry of Finance. The capital may be increased pursuant to a resolution by the Council of Ministers upon a recommendation by the Minister. Article 7 The Bank funds and financing sources shall consist of the following a The Bank s capital. 0 Government deposits. c Fees for expenses incurred by the Bank in performing its functions as determined by its Board of Directors. Loans for social purposes to .

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• measures suggest
• surprising given
• Asymptotic Expansion
• Homogenisation and Multiscale
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• Composite Structures
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• Weighted mean
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