Regulatory Alerts2022-01-01
General Authority for Financial Supervision Board Resolution No. 27 of 2022 Establishing a Dispute Resolution Committee for Non-Banking Finance Activities
The General Authority for Financial Supervision issued Board Resolution No. 27 of 2022 to establish a dedicated dispute resolution committee for non-banking finance activities. The committee, chaired by a Deputy Chairman and comprising up to seven experts, will adjudicate disputes between non-banking finance entities—including real estate finance, leasing, factoring, SME financing, and consumer finance—and their clients. It must issue binding decisions within one month of referral, notify parties within fifteen days, and operate under strict conflict-of-interest rules while maintaining a technical secretariat.
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