5. Debt Transfer
| No: 43023350 | Date(g): 21/10/2021 | Date(h): 15/3/1443 | Status: In-Force |
Translated Document
Effective from 2021-11-20 - Nov 19 2021
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1.5 Consumer Financing:
Financial institutions (debt sellers) must process the client's request to transfer debt by completing the necessary consumer financing debt transfer forms within a timeframe not exceeding one business day from the date of receiving the request.
2.5 Real Estate Financing:
| A. | Financial institutions (debt sellers) must process the client's request to transfer real estate financing debt by completing the necessary real estate financing debt transfer forms within a timeframe not exceeding three business days from the date of receiving the request. | |
| B. | Financial institutions (debt sellers) must complete the processing of the client's request within a timeframe not exceeding five business days from the date of receiving approval from the purchasing financial institution (the institution wishing to acquire the debt) for the debt transfer. |