Regulatory Alerts2023-01-01
Decision of the Board of Directors No. (105) of 2023
The Financial Regulatory Authority issued Board Decision No. 105 of 2023 to grant a three-month grace period for eligible financial leasing, factoring, SME/microfinance, and consumer finance companies to increase their issued and paid-up capital as required by recent licensing regulations. The Authority retains the discretion to extend this capital increase deadline by up to one year upon receipt of valid justifications from the companies. This measure facilitates regulatory compliance for newly established or pending license applicants without delaying their operational authorization.
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