The Saudi Arabian Monetary Authority (SAMA) issues the fifth update of the rules for opening bank accounts and the general rules for their operation

Stemming from the efforts of the Saudi Arabian Monetary Agency (SAMA) to facilitate and organize the procedures for opening and operating bank accounts for all customers of banks and banks, SAMA issued the fifth update of the rules for opening bank accounts and the general rules for operating them in commercial banks operating in the Kingdom of Saudi Arabia (real estate financing)

<SAMA explained that this step comes within the framework of the institution's continuous endeavor to raise the level of financial inclusion, keep pace with the economic development witnessed by the Kingdom towards achieving the objectives of Vision 2030, and in line with its regulatory and supervisory role on financial institutions subject to its supervision. The updated account rules, which will replace the fourth update of the rules for opening bank accounts and the general rules for their operation in commercial banks in the Kingdom, aim to organize the procedures for opening and operating bank accounts and define the supervisory and regulatory rules related to bank accounts.

The Monetary Authority pointed out that it published the draft “Rules for opening bank accounts and general rules for their operation in commercial banks operating in the Kingdom” on its website to solicit public feedback on it before adopting it in its final form, as the institution took into account public feedback when preparing these rules.

Selected real estate news links from Issue 175:

Real Estate Inspection -

تمويل عقاري – عقارات – فحص العقارات – تمويل عقاري

Riyadh Chamber hosted the introductory meeting. “Ejar” program explains the benefits and advantages of the unified lease contract for the commercial real estate sector

Real Estate Sorting Program completes sorting of more than 24 thousand real estate units in the first half of 2019"(edit)">Real Estate Sorting Program completes sorting of more than 24 thousand real estate units in the first half of 2019

Real Estate Sorting Program completes sorting of more than 24 thousand real estate units in the first half of 2019

the 33-article system. The Shura Council approves the draft system of ownership and sorting of real estate units."(edit)“>The 33-article system... Shura Council approves the draft system of ownership and sorting of real estate units

Residential program announces more than 13 thousand beneficiaries of housing and financing options (edit)">Residential program announces more than 13 thousand beneficiaries of housing and financing options

Residential program announces more than 13 thousand beneficiaries of housing and financing options

Ministry of Finance launches 4 e-services through Etimad digital platform to facilitate financial procedures and transactions (Edit)">Ministry of Finance launches 4 e-services through Etimad digital platform to facilitate financial procedures and transactions

برنامج الأراضي البيضاء يحصل أكثر من 1200 أمر سداد لمساحات إجمالية تتجاوز 411 مليون متر مربع

Government Services Observatory lays out 4 steps for the procedures to inventory and publicize services. The Government Services Observatory sets the roadmap for the electronicization of transactions

Real Estate Finance

For the fourth month in a row, ITC tops the speed index for May 2019” (edit)">For the fourth month in a row. ITC tops the Speed Index for May 2019

Saudi Arabian Monetary Authority (SAMA) Launches National Electronic Business Invoicing Platform

SAMA Launches National Electronic Business Invoicing Platform

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Developer Services Center "Completion“ intensifies its preparations to implement the electronic linkage for issuing building permits meets with a number of secretariats

Developer Services Center ”Completion" intensifies its preparations to implement the electronic linkage for issuing building permits meets with a number of secretariats

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”Residential" program invites beneficiaries whose income exceeds 14 thousand riyals to visit the “Support Calculator” online (edit)“>”Residential" program invites beneficiaries whose income exceeds 14 thousand riyals to visit the "Support Calculator" online

"Residential“ program invites beneficiaries who exceed 14 thousand riyals to visit the ”Support Calculator" online

Saudi Arabia's financial system is strong. The Kingdom reserves its permanent seat in the Financial Action Task Force "FATF" (edit)">Emphasized the strength of the Saudi financial system. The Kingdom reserves its permanent seat in the FATF

was valued at $230.786 billion. Foreign direct investment growth thanks to Saudi Arabia's economic diversification

Abdul Latif Jameel Land Company (ALLC) begins construction of 158 apartments in Dari Q residential complex

Abdul Latif Jameel Land Company (ALLC) begins construction of 158 apartments in Dari Q residential complex

Abdul Latif Jameel Land Company (ALLC) begins construction of 158 apartments in Dari Q residential complex

During the auction of Etqan Real Estate Co. Asset Growth Investment Company buys Riyadh Gallery Center for 976.5 million riyals

Tadawul approves the listing of Al Nayfat Finance Company for public offering (Edit)">Tadawul approves the listing of Al Nayfat Finance Company for public offering

Tadawul approves the listing of Al Nayfat Finance Company for public offering

Penalties include financial penalties. Dismissal from the register will follow the violators

Real Estate Fund adopts an amendment to the support mechanism for mortgage loan beneficiaries aiming to increase the monthly support ratio (edit)">Real Estate Fund adopts an amendment to the support mechanism for mortgage loan beneficiaries aiming to increase the monthly support ratio

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