Emphasizing on Financing Entities to Abide by the Controls and Procedures for Collection Issued by SAMA when Assigning Debt Collection Tasks to External Service Providers
| No: 44016457 | Date(g): 25/9/2022 | Date(h): 29/2/1444 | Status: In-Force |
Translated Document
Effective from 2022-09-25 - Sep 24 2022
To view other versions open the versions tab on the right
Based on the powers vested to SAMA under the relevant regulations, rules, and instructions, and in light of the provisions outlined in the Debt Collection Regulations and Procedures for Individual Customers issued by SAMA, and considering the observed negative practices in this regard.
SAMA would like to emphasize that financing entities are responsible for ensuring that external service providers comply with the Debt Collection Regulations and Procedures for Individual Customers issued by SAMA when assigning debt collection tasks. Financing entities must also ensure that external service providers implement the necessary measures to adhere to these guidelines and procedures. SAMA will take legal actions against those who violate these regulations and procedures.