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Financial Authority issues new rules for consumer finance firms
The General Authority for Financial Control has announced the issuance of a decision requiring consumer finance companies to utilize behavioral analysis assessments of customers through alternative data via the credit bureau "I-Score." The customer evaluation system based on behavioral analysis will be implemented starting April 1, 2027, aiming to enhance the efficiency of creditworthiness verification procedures, reduce the likelihood of default, and ensure the soundness of financing operations. This decision follows consultations with the relevant companies and seeks to improve the stability of the financial sector and minimize the risks of insolvency.
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