The Central Bank of Saudi Arabia announced the launch of the draft rules for regulating the work of real estate refinancing companies, calling in this regard for the public, interested and specialists – in order to enhance the principle of transparency and participation – to express their views and observations on the project, through the “Estisalah” platform of the National Competitiveness Center.
The Central Bank said, in a statement today, Sunday, that the issuance of these rules comes from the bank’s continuous efforts to develop the finance sector, and to keep pace with developments in the finance industry in general, and to continue supporting and empowering real estate finance agencies in particular, which resulted in the license for the “real estate refinancing” company. In addition to the remarkable development of the real estate finance sector.
And the Central Bank indicated that these rules aim to achieve growth and stability in the secondary market for real estate finance, and to provide better ways for real estate financiers to finance the beneficiaries’ ownership of housing, and to play the role of mediator between the real estate finance sector and other sources of funding.
The Central Bank stated that the views and observations on the draft “rules for organizing the work of real estate refinancing companies” will be received within (30) days.
He continued, “All observations and observations will be studied, for the purpose of adopting the final version of these rules. The draft draft can be viewed by visiting the “Estisalah” platform of the National Competitiveness Center.”
