- FRA Reopens Data Platform until October 29 to Audit All 2026 Entries.
- Non-Bank Financing Entities Obligated to Submit Monthly Data Within 15 Days of the Following Month.
Dr. Islam Azzam, FRA Chairman:
- These obligations enhance regulatory and supervisory capabilities, improve the efficiency of performance indicators and enable early risk detection.
Financial Regulatory Authority (FRA), chaired by Dr. Islam Azzam, has issued a circular requiring all non-bank financing entities to submit monthly activity data via FRA’s dedicated electronic platform within the first 15 days of each month for the preceding period. Additionally, the platform has been reopened from Monday, October 12, through October 29, allowing entities to complete pending submissions and audit all data entered since early 2026.
Under Circular No. 7 of 2026, non-bank financing entities must provide the Authority with the required monthly data on the designated platform between the 1st and 15th of each month for the preceding month’s data entry.
Non-bank financing entities are also required to conduct a thorough and meticulous review of all data prior to submission, ensuring there are no discrepancies or errors, and verifying its accuracy, completeness, and consistency with actual records available to FRA.
On an exceptional basis, the Authority decided to reopen the platform for all non-bank financing institutions from Monday, October 12, 2026 until Thursday, October 29, 2026. This measure aims to allow entities to complete all necessary submissions, review and audit data recorded since January 1, 2026, verify its completeness and accuracy, and make any required corrections or updates.
Dr. Islam Azzam, FRA Chairman, stated that these compliance requirements strengthen regulatory and supervisory capabilities across non-banking financial markets. By ensuring the availability, quality and completeness of all activity-related data, FRA can conduct precise analysis of performance indicators across each sector, detect potential risks early and efficiently address emerging challenges.
FRA Chairman added that full compliance by non-bank financing entities in providing and reconciling monthly data supports FRA’s broader strategy to achieve full integration between corporate databases and the Authority’s central system. This continuous data flow enables FRA to derive highly accurate market indicators and share them with market participants, empowering companies to rapidly innovate and refine products to meet growing consumer needs.
It is worth noting that Dr. Islam Azzam had previously issued Decree No. 2684 of 2026, obligating consumer finance companies to establish the IT infrastructure necessary for integrating their databases with FRA’s central system. Effective since September 24, the decree requires consumer finance firms to provide real-time access to key data points, including: newly approved client profiles, real-time consumer purchasing transactions for goods or services, product/service categorizations, borrower credit performance and repayment behavior, and key metrics regarding the financial solvency of the company
Last modified: October 13, 2026