Minister of Justice Dr. Waleed bin Mohammed Al-Samani, who is also Chairman of the Board of Directors of the Entrustment and Liquidation Center (Infath), inaugurated the official headquarters of the Center, in the presence of Deputy Justice Minister Sacad Al-Seif, CEO of the National Transformation Program Thamer Al-Sadoun, and a number of the Ministry’s senior officials.
The minister was briefed on the “liquidation procedures” from receiving referrals to returning funds and rights to the beneficiaries, and the role of different sectors and governance regulations used in ensuring quality and ensuring the satisfaction of beneficiaries, in addition to the center’s achievements in sales, liquidation and service beneficiaries during the past year.
The establishment of “Infath” is one of the initiatives of the National Transformation Program aimed at achieving excellence in government performance, raising the efficiency of the justice system and its services, and having financial and administrative independence that aims to achieve cooperation between judicial and government agencies in tasks related to liquidation and sale, through involving the private sector in a transparent and competitive manner.
The center had succeeded in automating the liquidation processes and linking them electronically with the enforcement courts, government agencies, and specialized technical bodies. It also succeeded in liquidating more than 300 assets, with a value of more than SR1.1 billion, through the implementation of more than 60 auctions. The center also contributed to reducing the time consumed for the liquidation process from 180 days to less than 80 days.
The center was also able to launch new types of selling and liquidation methods, such as electronic auctions and auctions held virtually, and was able to effectively involve the private sector in contributing and benefiting from liquidation operations, as the number of commercial establishments registered in the center reached more than 1,000 facilities.