The Real Estate Development Fund has specified six conditions that must be met for a beneficiary to transfer a loan issued to them by the Fund to a first-degree relative.
According to the source, the conditions are as follows:
1. The person to whom the loan is to be transferred must be a male or female employee.
2 – If the father, brother, or son is married, he must be over 21 years of age.
3 – If the transfer is to an unmarried brother or son, he must be over 24 years of age.
4. The transfer must be to a mother, sister, or widowed daughter; if the mother, sister, or daughter is divorced, at least two years must have passed since her divorce.
5- If the sister or daughter has never been married, she must be at least 40 years old.
6- The person to whom the transfer is intended must complete a declaration form from “Sama” stating their salary and submit a bank statement covering the past three months.
