<The Ministry of Finance announced its support for financing the purchase of housing for employees and retirees subject to the civil and military retirement system, following a request submitted by the Retirement Corporation, and the ministry's approval was circulated to all government agencies. The Ministry supported the Pension Corporation's request to issue the circular and facilitate the financing procedures by giving a salary transfer letter and fixing it in favor of the Pension Corporation at the bank, provided that the issuance is from the Corporation, taking into consideration some amendments to the circular form.“

She explained that the ”Masaken“ program is a financing method based on the Sharia-compliant Murabaha formula approved by the Sharia Board at Dar Al Tamleek, where the institution buys and owns the property based on the customer's request and desire, and then sells it to the customer in installments with a specific profit margin.

The Minister of Housing

The Minister of Housing explained last February that the financing sector in Saudi Arabia is expected to grow to 250 billion riyals in the coming years, while the ministry aims to reach 560 billion riyals in 2020 through partnerships with the private sector.

Minister of Housing explained in February that the financing sector in Saudi Arabia is expected to grow to 250 billion riyals in the coming years.