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Ahmed Saeed Calls for Consumer Finance Disclosure
The article focused on the guidelines issued by the General Authority for Financial Supervision regarding consumer protection in consumer finance services. It clarified that the authority has mandated companies to fully disclose all financing details prior to contract signing, including the loan amount, service costs, and insurance documents for total disability and death. It also emphasized the importance of explaining settlement costs in case of early repayment and ensuring that the customer is fully informed of all financial details before signing agreements. The authority confirmed that the provided guarantees should be limited to the financed movable asset and should not lead to the detention or imprisonment of the customer, in order to protect young and newlywed individuals from unethical practices.
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