The issuance of these rules was put into place by the Saudi Central Bank as a result of their continuous efforts to develop the finance sector and keep up with the developments of the finance industry in general. Additionally, these continued efforts aimed to support and empower real estate finance agencies, specifically, which resulted in providing licensing to the real estate financing company, while also developing the real estate sector. The Saudi Central Bank stated that these rules aim to achieve growth and stability in the secondary market for real estate finance, and aim to provide better ways for real estate financiers to finance the beneficiary's ownership of housing, and play the role of a mediator between the real estate finance sector and other sectors of funding.
Last Modified Date: 29/12/2021 - 9:09 AM Saudi Arabia Time
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