1.Banks may finance passenger new and used cars to the extent of 80% of their value. Financing of commercial vehicles is outside the purview of these regulations unless repayment of the loan is from the salary of the customer and other laid down criteria are satisfied.
2.Financing of operating leases to individuals would not be considered as car finance and would not fall within these regulations.
3.Car loans may be allowed in addition to the personal loan as above but within the 50% of gross salary and any regular income as explained in Article (7).