65131

Conventional Surety Company

This group encompasses conventional surety companies with business activities including providing surety by the guarantor for the fulfillment of financial obligations to the secured party, conducted conventionally. This group engages in the following business activities: credit, financing, or sharia-based financing guarantees provided by financial institutions; guarantees for loans disbursed by savings and loan cooperatives or cooperatives with savings and loan units to their members; and guarantees for credit and/or loan partnership programs disbursed by state-owned enterprises in partnership and community development programs. In addition to these business scopes, surety companies may engage in activities such as bond guarantees, installment purchase guarantees, trade transaction guarantees, procurement guarantees (surety bonds), bank guarantee (counter-guarantee), domestic documentary letter of credit guarantees, letter of credit guarantees, customs bonds, excise guarantees, and management consultancy services related to surety business activities, and other business activities with approval from the Financial Services Authority.

Belongs to:
6513

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