Assignment of Debt Collection Operations for Banks and Finance Companies to Debt Collection Entities that have Obtained SAMA's Initial Approval

Saudi Central Bank

Reference No.: 106893404
Date: 1446/09/25 AH
Attachments: None

Circular

To the Esteemed,
Peace, mercy, and blessings of God be upon you,

Subject: Assignment of Debt Collection Operations for Banks and Finance Companies to Debt Collection Entities that have Obtained SAMA's Initial Approval.

In continuation of Circular No. 10687769 dated 1446/06/29 AH, which confirmed that the deadline for banks and finance companies to contract with debt collection entities holding SAMA's initial approval has been extended until the end of March 2025 AD or the issuance of further instructions by SAMA, whichever is earlier.

Based on SAMA's supervisory and regulatory role over banks, finance companies, and debt collection entities; and considering SAMA's ongoing review of the regulations governing debt collection operations—including licensing, direct supervision, and required regulatory procedures—

SAMA wishes to inform that the deadline for banks and finance companies to contract with debt collection entities holding SAMA's initial approval has been extended until the issuance of further instructions by SAMA. The list of entities holding SAMA's initial approval can be accessed via SAMA's official website.

For information and compliance.

Yours sincerely,

Yazeed bin Ahmed Al-Sheikh
Deputy Governor for Supervision

Distribution Scope:

• Banks operating in the Kingdom.
• Finance companies operating in the Kingdom.
• Debt collection entities licensed by SAMA.
• Debt collection entities that have obtained initial approval to conduct debt collection operations for finance companies.

P.O. Box 2992, Riyadh 11169, Kingdom of Saudi Arabia | Phone: +966 11 463 3000