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FRA Requires Approval of the Examinations of Non-banking Financial Companies

Dr. Muhammad Omran, Chairman of the Financial Supervisory Authority (FRA), issued a decision requiring prior approval from the authority, or its board of directors, as the case may be, to carry out due diligence for any of the companies operating in non-banking financial activities.

The decision included that this approval be obtained, before moving forward towards reviewing the internal data and information of those companies, to make a final investment decision in this regard.

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