Further to SAMA Circular No. (106877869) dated 29/06/1446H concerning the decision to extend the deadline for banks and finance companies to contract with debt collection entities that have obtained SAMA's initial approval to engage in debt collection activities until the end of March 2025G, or until further instructions are issued by SAMA, whichever comes first. 

In line with SAMA's supervisory and regulatory role over banks, financing companies, and debt collection entities, and considering its ongoing review of the regulations governing debt collection activities, including licensing and direct supervision of the activity, it has been decided to extend the deadline for banks and finance companies to contract with debt collection entities that have obtained SAMA's initial approval to engage in debt collection activities until further instructions are issued by SAMA. Information about entities that have obtained SAMA's initial approval to engage in this activity can be found on SAMA's official website.

For your information and action accordingly.