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Saudi Arabia (141) > Cooperatives (2)

Name: Decree No. 1365/1/1 of 5-9-1386 (1966): Rules for Cooperative Lending.
Country: Saudi Arabia
Subject(s): Cooperatives
Type of legislation: Regulation, Decree, Ordinance
Adopted on: 1966
Entry into force:
Published on: Printed separately, 1966, 4 p.
ISN: SAU-1966-R-32329
Bibliography: Printed separately, 1966, 4 p.
Abstract/Citation: This Act applies to agricultural cooperative societies and multipurpose cooperative societies in which agricultural services constitute a major part of their activities. Sets up that the Saudi Arabian Agricultural Bank (henceforth the Bank), when granting loans, shall deal with farmer members through cooperatives. Grants preferential treatment and loans to cooperatives. Determines a maximum limit for each kind of loan granted to cooperatives. Other provisions cover security of short -term and seasonal loans. Regulates the apllications for a loan from the Bank. Sets forth exeptional loans exeeding the limit fixed for it.

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