Regulatory Alerts2025-03-25
Assignment of Debt Collection Operations for Banks and Finance Companies to Debt Collection Entities that have Obtained SAMA's Initial Approval
The Saudi Central Bank (SAMA) has extended the deadline for banks and finance companies to contract with debt collection entities holding SAMA's initial approval until further instructions are issued. This directive supersedes the previous March 2025 AD cutoff, allowing continued contractual engagements while SAMA completes its ongoing review of licensing and direct supervision regulations. Affected entities must verify their approved status on SAMA's official website to ensure compliance with the updated operational framework.
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