Saudi mortgage law 'may be approved next week'
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Saudi mortgage law 'may be approved next week'

Saudi mortgage law 'may be approved next week'

Abdul-Rahman al-Sadhan, the secretary general of Saudi Arabia's council of ministers has said that a long-awaited mortgage law may be approved next week, Reuters has reported. The law has been in planning stages for almost a decade. Finance minister Ibrahim al-Assaf said last year that it would be implemented before end-2009. The law is expected to cater to a larger proportion of housing demand in a country where less than a third of the population owns a home.

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