SAMA proposes new regulations to boost home mortgage
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SAMA proposes new regulations to boost home mortgage

SAMA proposes new regulations to boost home mortgage

The Saudi Arabian Monetary Agency (Sama) has proposed new regulations on real estate financing, leasing and supervision of financial companies, as the kingdom prepares to open up its mortgage market, Arab News has reported. The central bank is requesting the public to review the draft regulations and submit their comments and observations using within 30 days of its publication. "Sama's involvement in mortgage financing reflects another heavily regulated financial service sector in the Saudi market," said Basil Al-Ghalayini, CEO of BMG Financial Group. "This, in my opinion, may prove to be healthy over the long run in order to protect all parties' rights," he said.

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    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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