Regulatory Alerts2021-01-01
Board Resolution No. 105 of 2021 Regarding the Regulation of Guarantees Provided by Clients of Non-Banking Financial Entities
The General Authority for Financial Supervision issued Board Resolution No. 105 of 2021 to regulate guarantee management by licensed non-banking financial entities. The resolution mandates complete data in client contracts, prohibits accepting safekeeping receipts or blank-signed documents as financing security, and requires prudent handling and prompt return of guarantees upon transaction closure. Compliance with these provisions is explicitly established as a mandatory condition for the continued validity of operating licenses.
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