Month: July 2018

Ministry of Commerce performs 287 thousand services for the business sector through the call center during the first half of 2018

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Reading time: < 1 MinuteThe Ministry of Commerce and Investment provided more than 287,000 services to business owners during the first half of 2018 through the Business Sector Call Center at the toll-free number 920000667. Statistics from the Business Sector Call Center revealed that it received 286,994 calls from January 1 through June 30, 2018, at a rate of 2,412 calls per day, with the center operating five days a week… Read more

10 government and private entities are preparing to launch the “Sayyad Project” next September

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Reading time: 2 MinutesTen government and private entities are continuing their preparations to launch the “Sayyad Project” in early September, affirming their readiness to provide support to small businesses in the sector, with the goal of ensuring that every fishing boat at sea has a Saudi crew member on board by 2020. Dr. Ali Al-Sheikhi, Director General of the General Directorate of Fisheries and CEO of the National Program for Fisheries Development, explained during a workshop … Read more

Professor Abdulaziz Al-Issa writes: Saudization: Successes and Failures

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Abdulaziz Al-Issa: Real Estate Finance

Reading time: 2 MinutesThe issue of Saudization (job localization) is an undisputed strategic goal, supported by various government sectors as well as the private sector, which is an integral partner in this effort. However, disagreement arises over the approach to developing solutions to address this extremely important issue, as it must be handled professionally to achieve the desired goals. I have addressed this important issue, … Read more

The Saudi Arabian Monetary Authority Issues an Update to the Standardized Document for Mandatory Automobile Insurance

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Reading time: 3 MinutesThe Saudi Arabian Monetary Authority (SAMA) announced the issuance of a decision to update the standardized policy for mandatory automobile insurance, which is scheduled to take effect as of 15/12/1439 AH, corresponding to 26/08/2018 AD. Among the most notable amendments to the standardized policy for mandatory motor vehicle insurance is that it now covers the driver of the insured vehicle who is … Read more

Agricultural Development Fund launches new lending system “Rafid”

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Reading time: < 1 MinuteThe Agricultural Development Fund has contracted with a consulting firm specializing in agricultural finance, as part of the Fund’s strategic transformation program, which consists of ten initiatives, including the Credit Operations Initiative. Work has been underway to develop credit regulations by applying global best practices in the areas of lending, collections, collateral, and credit risk. This step is in line with the Agricultural Fund’s policies … Read more

“Ejar announces the activation of payment via SADAD on a monthly basis

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Rent

Reading time: 2 MinutesThe Ministry of Housing’s “Ejar” program has launched an electronic payment feature through the “Saddad” service. This feature allows users to pay rent electronically and select the appropriate payment frequency—whether monthly, quarterly, semi-annually, or annually. The Ministry noted that the launch of this service offers numerous benefits to all parties involved in the rental process, as it simplifies the payment process for tenants and streamlines the process… Read more

3 companies vying to import hybrid cars to Saudi Arabia

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Reading time: 2 MinutesThree car dealerships in Saudi Arabia have begun competing fiercely to supply hybrid vehicles—which run on both “fuel and electricity”—to the local market, following the July 5 implementation of the decision to allow the use of electric vehicles. Car dealerships and importers have received certification for the technical regulations for electric vehicles from the Saudi Standards, Metrology and Quality Organization, which were approved in early January and circulated to … Read more

“Residential” program announces loans to buy ready-made units from the market

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Reading time: 3 MinutesThe Ministry of Housing, represented by the “Sakani” program, has launched its new housing option—a loan for ”purchasing a ready-to-move-in housing unit from the market”—for those on waiting lists who have not yet been allocated housing or taken advantage of previous housing options, while confirming that the online portal for implementing the royal decree stipulating that “the state will bear the value-added tax on amounts not exceeding 850 … Read more

“Justice” signs an agreement with the Public Authority for Real Estate to exchange data and build real estate indicators

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Riyadh - Real Estate in Riyadh - Trade Names System

Reading time: 2 MinutesUnder the patronage of Minister of Justice Sheikh Dr. Walid bin Mohammed Al-Samaani, Deputy Minister of Justice Sheikh Saad bin Mohammed Al-Saif and His Excellency the Governor of the General Real Estate Authority, Mr. Essam bin Hamad Al-Mubarak, signed a cooperation agreement to develop real estate indicators based on data exchanged between them through advanced electronic channels that expedite the process ofand the publication of indices for the purpose of developing the sector … Read more

Military: 7 real estate companies to be liquidated in 2018 after defaulting

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Reading time: < 1 MinuteThe Real Estate Contributions Committee plans to “liquidate” seven distressed real estate contributions by selling them at public auction and through direct sale during the remainder of 2018. Mr. Hamza Al-Askar, Secretary-General of the Real Estate Contributions Committee, stated that preparations are underway at the committee to fully prepare these properties for sale by resolving all legal issues surrounding them, in preparation for their liquidation and sale at the best possible return through public auction and direct sale… Read more

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