Book traversal links for إسناد مهام تحصيل ديون البنوك والمصارف وشركات التمويل للعملاء المتواجدين خارج المملكة
Assignment of Debt Collection Operations for Banks and Finance Companies to Clients Outside the Kingdom
No: 44094297 | Date(g): 9/7/2023 | Date(h): 21/12/1444 | Status: In-Force |
Translated Document
In reference to SAMA's Circular No. (44055679) dated 08/07/1444H regarding the restriction of the assignment of debt collection operations of banks and finance companies to debt collection entities Licensed by SAMA, and in response to inquiries received by SAMA from some financing entities regarding the applicability of the above-mentioned circular to the collection of debts from clients located outside the Kingdom.
We would like to inform you that the above-mentioned circular is limited to the restriction of debt collection operations for clients located inside the Kingdom and does not include the collection of debts from clients located outside the Kingdom. This is in line with the provisions of the relevant laws and regulations, particularly the Instructions on Outsourcing for Finance Companies and the instructions related to the protection of personal data.