Referring to the Central Bank Circular No. (44055679) dated 08/07/1444H regarding the consolidation of the assignment of debt collection tasks of banks, financial institutions, and financing companies to licensed debt collection entities authorized by the Central Bank. Additionally, following Central Bank Circular No. (45029088) dated 01/05/1445 H, which emphasizes the commitment to the specified deadline for consolidating the assignment of debt collection tasks of banks, financial institutions, and financing companies to licensed debt collection entities authorized by the Central Bank.

In light of the Central Bank's supervisory and regulatory role over banks, financial institutions, and licensed debt collection entities, the Central Bank wishes to inform that the deadline for banks, financial institutions, and financing companies to contract with debt collection entities that have obtained preliminary approval from the Central Bank to conduct debt collection activities for financing entities has been extended until the end of September 2024. A list of entities with preliminary approval from the Central Bank can be found on the Central Bank's official website.

For your information and compliance.