Building on its proven track record of diverse financing programs for individuals, the Saudi Housing Finance Company (Sahl) has been awarded the “Best New Investment Financing Product 2017” award for its “Sahl Investment” program by “The Banker Middle East,” the region’s most renowned and authoritative magazine in the financial and banking sector, as part of the magazine’s annual 2017 competition.
The award was presented to the CEO of the Saudi Housing Finance Company, Mr. Abdulelah Al-Sheikh, by Mr. Robin Amlot, CEO of the magazine, This award recognizes the efforts made for the “Sahl Investment” product, which has earned customer satisfaction.
For his part, Mr. Abdulelah Al Sheikh, CEO of the Saudi Housing Finance Company (Sahl), commented that the company’s win of this award (Best New Investment Finance Product 2017 for the “Sahl Investment” product) is a result of the benefits and flexibility offered by the company’s financing programs, which cover all segments of society and through which the company seeks to meet its customers’ housing needs.
Al-Sheikh noted that all Saudi Housing Finance Company programs comply with the provisions and principles of Islamic Sharia and are approved by the company’s Sharia Supervisory Board, whose primary responsibilities include ensuring the Sharia compliance of its operations and guaranteeing that all company activities align with the provisions andprinciples of Islamic Sharia.
It is worth noting that the product “Sahl Istithmar” enables customers to purchase an investment property that generates an acceptable return and allows the customer to make payments in annual or semi-annual installments for a period of up to 20 years, regardless of the customer’s income, monthly obligations, or place of employment, as thefrom the annual or semi-annual return on the property. It also allows the customer to manage the property with complete freedom; the financing amount reaches 10 million riyals, in addition to Takaful insurance covering the financing amount in the event of death or permanent disability.
