SAMA launches a public consultation on the rules regulating the activities of real estate refinancing companies
Saudi central bank “SAMA” announces the publication of a public consultation on the rules for regulating the activities of real estate refinancing companies. The publication of these rules continues SAMA’s efforts to develop the financial sector and keep abreast of developments in the financial sector in general. In addition, the support and empowerment of real estate financing entities, in particular, led to the emergence of the Real Estate Refinancing Company and the development of the real estate sector.
SAMA clarified that the rules are aimed at ensuring the stability and growth of the secondary real estate market and provide better ways for real estate finance entities to finance beneficiaries to own homes. Also, play the role of mediator between the real estate finance sector and other sources of financing.
In this regard, SAMA invites the public, specialists and interested persons to provide their views and observations on the rules within (30) days, noting that all views and observations will be taken into account for adoption. of the final version of these rules. This project can be accessed by visiting the Public Consultation Platform affiliated with the National Center for Competitiveness (link).