Deadline for financial information center for unauthorized loan funds

🔹 Head of the financial information center said: The continued operation of Qarz al-Hasanah funds without obtaining approval from the Central Bank will place these institutions on the list of suspects for money laundering and subject them to legal restrictions.

🔹 Unlicensed funds must soon go to the 'National Licensing Portal', register an application, obtain a tracking code, and submit the documents to the Central Bank; otherwise, starting next month and according to the identified risk level, a phased implementation of legal restrictions will be applied against these institutions within the framework of laws and regulations on anti-money laundering and counter-terrorism financing.