RIYADH: The Saudi Central Bank, also known as SAMA, on Wednesday issued new rules to calculate the annual percentage rate to improve disclosure practices.
The new directives aim to standardize methods for determining the APR of financial products for individuals, according to a press note.
The APR is a fixed interest rate for an entire year and offers a complete picture of what consumers will pay for a loan.
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Saudi Central Bank sets new rules for APR calculation
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