March 31, 2023, midnight

Does dealing with unlicensed financial companies expose me to legal liability?

This question is asked by millions of people whether by those who search for personal finance or institutional finance, actually, it’s a very important question that a lot of people forget to ask before dealing with such companies.

So we will know more about unlicensed financial companies through the following lines and how dealing with them is dangerous. Also, we will know the right way to choose the financial agent to deal with and the most important insurances that should be taken before the agreement to the next finance.

What are financial companies?

They are numbers of institutions whose mission is to present financial facilities whether for persons or institutions which search for financial support to raise its standard and development.

Furthermore, getting loans from these institutions requires several steps that vary according to the conditions of each institution.

How do I recognize unlicensed financial companies?

If it’s your first time dealing with financial institutions, we ensure you that it is easy to know unlicensed financial companies in KSA through the official website of the Saudi Central Bank SAMA.

 The Saudi central bank introduces the service of recognizing unlicensed financial companies by applying the following steps:

* Sign in to the Saudi Central Bank.

* Enter the link from Here as it provides a list of all unlicensed financial companies.

* You can search for the institution you need to deal with and you will find all data required.

What are the dangers of dealing with unlicensed financial companies?

It is very risky to deal with such agents as it may expose you to the following:

* Being a fraud: you may be a fraud as a result of dealing with these companies whether to get a personal loan or for your institution.

* Endure financial costs: most of these unlicensed institutions cost unneeded illegal financial burdens.

* Legal problems: it may expose you to legal problems because for many reasons enduring lots of financial burdens are the most important ones.

Briefly, we can say that unlicensed financial companies exploit providing financial facilities to fraud people and institutions. It can give easy conditions but in return costs you illegal financial burdens that may expose you to illegal problems in the future.

How to choose the perfect financial agency?

It is your responsibility to choose the best financial agency to get legal financial facilities to avoid getting into trouble, but the question is: How to choose the best agency?

Simply it will not take a lot of steps, all you have to open the official site of the Saudi Central Bank and search for the list of available financial companies.

It provides several distinct services as the list of financial institutions and offer the following:

* The name of the agency.

* Classifications.

* Type of activity.

* Unified number.

* License number.

Important things that should be taken into consideration when requiring finance.

Before requesting your finance, make sure of the following matters:

* Making sure that the financial agency is licensed.

* It is favored to use the financial calculator which eases you in knowing the monthly installment value, the Flat rate, in addition to number of installments of the loan.

Tayseer Company is considered one of the best financial agencies ever whether for personal, institutional, or car finance. So, if you intend to get your next personal loan, don’t hesitate and get it now from Tayseer Finance.