Press Release

SAMA Issues Five Licenses for Conducting Real Estate Finance and Financial Leasing Activities in the Kingdom

Dated 29/2/1435H (1/1/2014)

The Governor of SAMA, Dr. Fahd Al-Mubarak, announced that SAMA had issued five licenses to companies and domestic banks for conducting one or more of finance and financial leasing activities in the Kingdom. The licenses are as follows:

1.     A license for real estate finance activity issued to Amlak International;

2.     A license for real estate finance activity to SAAB;

3.     A license for real estate finance and financial leasing activities to the Arab National Bank;

4.     A license for financial leasing, SMEs finance and consumer credit activities to Nayifat Company;

5.     A license for real estate finance activity to Dar Al Tamleek Company.

The companies and banks will apply in the forthcoming period to SAMA for the approval of their different finance products in accordance with finance laws and their implementing regulations.

SAMA Governor has emphasized that the Kingdom's finance market is a promising market, given the new legislations for finance laws and their implementing regulations.