Riyadh-- The Saudi Central Bank (SAMA) announced the licensing of Mani, a financial debt collection company, to provide debt collection services for financial institutions.

The license was granted to the company after completing all requirements stipulated in the “Rules of Licensing Finance Support Activities” issued by SAMA.

This comes as part of SAMA’s role in supervising, regulating and enabling the finance sector and its supporting activities.

SAMA invites institutions wishing to carry out financial debt collection activity to review the “Rules of Licensing Finance Support Activities” and relevant laws and guidelines defined by SAMA by visiting its official website.

SAMA stressed the importance of exclusively dealing with licensed and authorized financial institutions.

Source: Saudi Press Agency