The Financial Supervision Authority denies rumors of the closure of a large number of branches of non-banking financing entities

The Financial Regulatory Authority, headed by Dr. Islam Azzam, monitored a number of pages and accounts on social media publishing false and misleading news attributing the authority to issuing false decisions in the non-banking finance sector, which represents a serious manipulation of citizens’ awareness and threatens the interests of customers and entities working in the sector.

The Authority categorically denies what was circulated by these accounts regarding the issuance of a decision to close the branches of a large number of non-banking finance companies and associations and to stop the work of these companies and institutions.

The Authority warns that publishing and circulating these rumors may expose their promoters to legal accountability.