“Saudi Central Bank announces an update to the standardized compulsory vehicle insurance policy

Reading time: < 1 MinuteThe Saudi Central Bank announced updates to certain provisions of the current Standard Policy for Compulsory Motor Vehicle Insurance. This step stems from the Central Bank’s ongoing efforts to develop the insurance sector and protect the rights of policyholders and beneficiaries of insurance coverage, as well as the powers vested in it under the Cooperative Insurance Companies Supervision Law. The Bank explained that the amendments made to the policy included … Read more

National Development Fund: 111 billion riyals to stimulate the local economy in 2022

Reading time: 3 MinutesThe development system, which includes the National Development Fund and its affiliated development funds and banks, concluded the 2022 calendar year having achieved a number of accomplishments, agreements, and innovative development programs launched during the fourth quarter of last year, aimed at achieving the economic, social, and cultural goals of the Kingdom’s Vision 2030 and increasing the development impact and financing of the private sector and talent across various fields. A report by the Fund … Read more

«Enforcement holds 22 public auctions to sell and liquidate more than 300 properties

Reading time: 2 MinutesThe Support and Liquidation Center announced “Enfaaz” announced the holding of 22 public auctions, ranging from in-person to online auctions, to sell over 300 properties in various regions of the Kingdom, in addition to auctions of various movable assets, during the period from January 15 to 22, 2023. In a statement, the “Enfaaz” Center said that the properties range from commercial, residential, and agricultural land to villas and buildings … Read more

«National Housing launches 400 housing units in Bayut Tilal project in Madinah

National Housing Company

Reading time: < 1 MinuteThe National Housing Company “NHC” has launched the Bayut Tilal project in the Al-Mukaymin community in Madinah for those eligible for housing support, in partnership with Tilal Real Estate Company, as part of efforts undertaken in partnership with the private sector to increase the real estate supply in Madinah. Bayut Tilal offers more than 400 residential units across an area exceeding 110,000 square meters, featuring a variety of sizes and designs; the units range from villas to duplexes … Read more

Ministry of Justice launches payment notification service to minimize financial disputes

Financial disputes

Reading time: < 1 MinuteThe Ministry of Justice has launched the “Notification of Obligation” service through the judicial notification services on the Najiz.sa portal, which ensures and documents the notification of parties regarding the amount due for payment within a specified period. The Ministry said in a statement that the “Notification of Obligation” service allows the service requester to notify the parties of the amount due so that they may make payment within the period specified by law, and in … Read more