Regulatory Alerts2019-06-12
Rules Governing Disposal of Finance Assets or Their Contractual Rights
SAMA has issued an updated version of the Rules Governing Disposal of Finance Assets or Their Contractual Rights to standardize sector-wide asset liquidation and rights management procedures. The circular mandates all regulated financial institutions to immediately review and comply with the revised provisions effective upon its publication date. Issued under the Banking Control Law and Finance Companies Control Law, the framework replaces prior guidelines to ensure consistent regulatory oversight of finance asset disposals.
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