The Saudi Central Bank announced that real estate finance companies are allowed to practice all financing activities without stipulating the prohibition of combining real estate finance activity with any other financing activity. of the Executive Regulations of the Real Estate Finance Law.

The decisions included amending Article "16" of the Executive Regulations of the Financing Companies Control System, after the deadline for public comments on the draft amendment through the National Competitiveness Center's “Reconnaissance” platform.

The Saudi Central Bank indicated that under this amendment, finance companies were allowed to practice financing activities without stipulating the prohibition of combining any of them, and the Saudi Central Bank may restrict the license with special conditions.

These decisions come in line with the Saudi Central Bank's continuous efforts to review the executive regulations of financing systems, in order to ensure that they are appropriate and contribute to the safety and development of the financing sector and enhance competition.
The Saudi Central Bank stated that the executive regulations of the Real Estate Finance Law can be viewed after the repeal of Article “Fourth” and the Executive Regulations of the Financing Companies Monitoring System after amending Article “16” by visiting the Bank's website.