Finance Companies Control law

The Regulations shall regulate the following: 1. The maximum limit of finance that may be offered by a finance company. 2. Prohibiting or restricting finance companies from conducting certain credit transactions. 3. The special conditions to be observed by a finance company in conducting certain credit activities. 4. The minimum percentage of collateral proportions to be observed in certain contracts for finance amounts and assets presented as collateral thereof. 5. The principles for disclosure of the criteria of the cost of finance and the method of calculation to enable consumers to compare prices. 6. Controls necessary to ensure equity of transactions and protection of consumers’ rights. 7. Principles of fair distribution of finance profit over maturity period. 8. Collaterals for protecting payments made by borrowers and how the finance company disposes of the same. 9. Debts collection by finance companies and provisions of licensing. 10. Any other matters regulated by the Regulations in accordance with this Law.