The Financial Regulatory Authority (FRA), chaired by Islam Azzam, has actually needed all non-bank funding business and entities to send regular monthly activity information through its devoted electronic platform within the very first 15 days of monthly, covering the preceding month. The Authority will likewise resume the platform from 12 to 29 October to enable all entities to send impressive information and evaluation and validate details got in given that the start of 2026.
Circular No. 7 of 2026 needs non-bank funding entities to send the needed regular monthly information through the platform developed by the FRA in between the very first and fifteenth day of monthly, covering the preceding month.
The circular likewise needs entities to perform a comprehensive evaluation of their information before submission, making sure that all details is precise, total and constant with the real records readily available to the Authority, without any inconsistencies or mistakes.
As an extraordinary procedure, the FRA has actually chosen to resume the platform to all non-bank funding entities from Monday, 12 October, up until Thursday, 29 October 2026. The procedure intends to make sure that all needed information is sent which info gone into by the entities because 1 January 2026 is evaluated and validated for precision and efficiency, with any needed corrections or changes made.
Azzam stated the requirements would reinforce the Authority’s supervisory and regulative abilities throughout the non-bank monetary market by making sure the schedule of extensive information on funding activities and enhancing its quality and efficiency. This would make it possible for the FRA to perform more strenuous evaluations and analyses of efficiency indications throughout specific activities, determine prospective dangers at an early phase and address difficulties more effectively.
He included that compliance with the regular monthly information submission and evaluation requirements, consisting of the correction of any disparities, would support the FRA’s efforts to accomplish complete combination in between the databases of non-bank funding business and entities and the Authority’s own database.
This combination would guarantee that details is constantly upgraded and offered regularly, making it possible for the FRA to establish more precise signs for each activity and share them with market individuals. Such signs would likewise assist business establish their items quicker to fulfill clients’ growing requirements, he stated.
The FRA Chairman formerly released Decision No. 2684 of 2026, needing customer financing business to develop the required technological facilities to connect their databases with the Authority’s database. The choice worked on 24 September.
Under the choice, business need to offer particular information, consisting of consumer details right away after funding applications are authorized; real-time information of deals including the purchase of items or acquisition of services by clients; categories of the items and services funded by each business; client categories based upon payment consistency; and information on business’ monetary stability, together with the pertinent signs.
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