Other financial service activities, except insurance and pension funding activities

ISIC 649 covers financial intermediation including credit granting and leasing. Under the updated framework of MD 229 of 2025, these activities are strictly Excluded Activities when provided to non-related parties. Forensic auditors will scrutinize the 'Related Party' status of borrowers to ensure interest income is not being illicitly shielded under the 0% regime.

Audit Red Flag

Mischaracterizing third-party lending or financial leasing as 'Treasury and Financing Services to Related Parties' to circumvent the Excluded Activity classification.

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