Ministry of Commerce cancels licensing requirement for debt collection

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The Ministry of Commerce announced the availability of commercial records issuance service to practice debt collection activity for individuals, allowing investors to undertake the activity immediately following the cancelation of the licensing requirement.

In a statement, the ministry said that the waiving the licensing requirement for debt collection activity came to facilitate the practice of commercial business, conduct of economic business and reduce the requirements.

In addition, the move aims to improve and upgrade the business environment in the Kingdom in accordance with international best practices in line with the Saudi Vision 2030 goals.