Regulatory Alerts2020-01-01
Circular Letter No. 1625 of 2020: In-Principle Approval for Establishment of Tawas Factoring Company
The Financial Regulatory Authority issued Circular Letter No. 1625 of 2020 to grant in-principle approval for the establishment of Tawas Factoring Company. The directive specifies the preliminary regulatory clearance necessary before the entity can proceed with formal licensing procedures and statutory capitalization requirements. This authorization permits the new factoring firm to initiate its operational setup under regulatory oversight while awaiting final compliance verification and full commercial licensing.
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