Regulatory Alerts2023-01-01
Board of Directors Resolution No. (105) of 2023
The Financial Regulatory Authority (FRA) issued Resolution No. 105 of 2023 to grant a grace period for companies seeking licenses in financial leasing, factoring, MSME financing, or consumer financing to increase their capital. This directive streamlines the licensing process by allowing eligible firms additional time to meet capital requirements without delaying regulatory approval. The resolution explicitly covers all specified financial activities and establishes clear compliance pathways for both new applicants and existing market participants.
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Home Uncategorized Board of Directors Resolution No. (105) of 2023
Board of Directors Resolution No. (105) of 2023
Regarding granting a grace period to companies seeking a license from the Authority to conduct any of the following activities: financial leasing, factoring, financing for medium, small, and micro enterprises (MSMEs), or consumer financing.
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