Regulatory Alerts2021-06-20
Added · Updated
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.
More like this from FRA
We email you every new FRA publication the day it's published.
Topics
Share