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Financial Authority reveals actions on International School loan
The Financial Regulatory Authority has determined urgent measures regarding the exploitation of an international school to collect parents’ data for obtaining loans from a consumer finance company. An investigation conducted over four days resulted in the cancellation of financial commitments and suspension of dealings with the company. A criminal case has been initiated against the company, and financing contracts related to school fees and clubs have been stopped. The CEO's license has been revoked, along with the imposition of disciplinary actions on other employees, all aimed at protecting the rights of consumers and ensuring stability in the non-banking financial sector.
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