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Financial Authority trains factoring firms on new digital system
The General Authority for Financial Control has launched a new digital system in collaboration with "e-Finance" to enhance the efficiency and scheduling of factoring activities. The system aims to prevent double financing and improve transparency. Factoring companies have been trained to use the platform to inquire about invoices and verify pre-financing statuses, with the goal of reducing risks and increasing governance levels. Additionally, the results of the first quarter of 2026 showed a 48.7% increase in outstanding balances and a 28.2% rise in the number of clients, as part of the Authority's efforts to develop an integrated electronic system for digitizing factoring operations, reducing costs, expediting procedures, and improving oversight of the non-banking financing market.
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