1.2 Objective of the Rules
| No: 42022533 | Date(g): 23/11/2020 | Date(h): 8/4/1442 | |
The main objectives of these Rules are to enable finance companies to:
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| i. | Evaluate the degree of credit risk associated with exposures;
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| ii. | Prudently value exposure portfolio;
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| iii. | Determine and make adequate provisions for expected credit losses following robust governance; and
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| iv. | Achieve uniformity and consistency in exposure classification and provisioning methodologies.
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