Recent Development
The Banking Regulatory and Supervisory Authority amended the Regulation on the Outsourced Services Procured by Banks (“Regulation”) on December 11, 2020.
What’s New?
Pursuant to the amendment, as of December 11, 2020, service providers are allowed to conduct marketing for banks in car dealers and authorized second-hand motor vehicles sellers.
Conclusion
The Regulation expanded the marketing channels for banks and first-hand and second-hand car dealers are permitted to market car loans.
