The Real Estate Contributions Committee (Tasfeeqa) has joined the Saudi Credit Information Company (SIMAH) by signing an agreement to provide its members with updated, accurate and correct credit information on natural or legal consumers through credit reports issued by SIMAH in accordance with the Credit Information System and its Executive Regulations issued by the Saudi Arabian Monetary Agency (SAMA).

The agreement was signed by Hamza bin Abdulaziz Al-Askar, Secretary General of the Real Estate Contributions Committee (Tasfeeqa) and CEO of SIMAH. <The agreement was signed by Hamza bin Abdulaziz Al-Askar, Secretary General of the Real Estate Contributions Committee, and SIMAH's CEO: For his part, Hamza Al-Askar, Secretary General of the Real Estate Contributions Committee, expressed the importance of joining SIMAH's membership in order to benefit from the various and rich services and products that are now offered to government agencies, thus ensuring the safety, growth and prosperity of the financial sector, stressing at the same time that the efforts made between the Committee and SIMAH and the procedural steps and mechanisms taken will undoubtedly reflect on the continuous efforts made by the Committee and all other concerned parties to protect rights and create an integrated and attractive real estate, financial and investment environment to attract and develop real estate investments.

<“We seek to follow up the owners of real estate contributions to legally recover the shareholders” funds, while those funds and contribution lands are stalled due to this default,” Al-Askar said. <Al-Askar stressed that the committee, through SIMAH credit reports, seeks to preserve rights and restore them, as the committee works to liquidate the rights of troubled shareholders by selling them at a fair price and then returning the rights of shareholders to them, noting the positives of real estate contributions, through which the establishment of giant residential cities was supported, and providing white land for citizens and investors, but it is not without negatives, the most prominent and most serious of which is the loss of shareholders” money, and the failure of many contributions for several decades. For his part, Nabil Al Mubarak emphasized that the Real Estate Contributions Committee's membership in SIMAH complements SIMAH's efforts to provide all its services to the government sector, in light of the leading credit reports provided by SIMAH on the business sector, which it launched since 2009 and developed during the past years, and the value-added services that contribute to building an attractive financial investment environment.