Month: April 2022

Reading time: < 1 MinuteThe Saudi Central Bank announced that it would allow mortgage finance companies to engage in all financing activities without stipulating a prohibition on combining mortgage financing with any other financing activity, The decisions issued by the bank included the approval of the Minister of Finance to repeal Article “4” of the Executive Regulations of the Real Estate Financing System. The decisions also included an amendment to Article “16” of the Executive Regulations of the System for the Supervision of Companies … Read more

Reading time: < 1 MinuteThe “Wafi” off-plan sales and leasing program issued 133 licenses for off-plan projects during the first quarter of 2022, including 32 licenses for the sale of residential projects providing 11,355 units, It also approved the completion of three projects. Naif Al-Sharif, Secretary-General of the “Wafi” Off-Plan Sales and Leasing Committee, explained that the issued sales licenses covered 17 projects providing 11,089 units … Read more

Reading time: < 1 MinuteThe E-Commerce Council has established 13 compliance standards for online stores to ensure and protect consumer rights, namely: Providing a contact phone number, email address, and live chat; offering secure electronic payment through approved banking channels; and enabling consumers to file complaints on the website or via social media.The standards also require disclosure of the specific timeframe for responding to complaints, … Read more