16 Hrs
Source:
المصدر
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License Freeze Continues
The Financial Regulatory Authority, chaired by Dr. Islam Azzam, has extended for one year, until October 11, 2027, the suspension of accepting applications to establish and license consumer finance and microenterprise finance companies. The decision also covers applications from civil society associations and institutions seeking to provide microfinance. The Authority said the measure aims to support financial stability while taking market needs, the scale of activity and service quality into account. The suspension of applications for licenses to provide consumer finance using financial technology remains in effect until February 25, 2027, and may be renewed.
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