This decision comes after a previous amendment issued by the Central Bank on June 16, 2019, which allowed the company to purchase real estate portfolios after three months from the date of granting the financing or from the date of receiving the first installment, whichever comes later, while maintaining the same period of recourse against the financier.

The decision also grants the right to recourse against the financier for up to six months, whichever comes later. <The Central Bank explained that this amendment is based on the powers granted to it under the Mortgage Finance Law and its executive regulations, in addition to the Finance Companies Control Law and its executive regulations. He also pointed out that Article 67 of the Executive Regulations of the Finance Companies Control Law grants finance companies the possibility of issuing securities after obtaining SAMA's approval, while emphasizing the need to comply with the rules governing the disposal of financing assets.

In this context, the Bank pointed out that it is necessary to adhere to the rules governing the disposal of financing assets.

In this context, the Central Bank pointed out that the fifth paragraph of the second chapter of the rules of disposal of financing assets or rights arising therefrom, which was updated through a circular issued on June 12, 2019, gives it the authority to exempt some disposals from some provisions if it deems that their nature or size requires it.