SAMA�s Press Release on the Issuance of Eight Licenses for Conducting Real Estate Finance and Financial Leasing Activities in the Kingdom

 

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

1.     A license for financial leasing activity to the Saudi ORIX Leasing Company;

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

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

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

5.     A license for real estate finance activity to Banque Saudi Fransi;

6.     A license for real estate finance and financial leasing activities to Bank Albilad;

7.     A license for real estate finance and financial leasing activities to Al Rajhi Bank;

8.     A license for real estate finance activity to the Saudi Home Loans Company (SHL).

 

The Governor stated that the number of banks and companies which SAMA has granted licenses for conducting finance activities in accordance with the finance laws and their implementing regulations is 8 banks and 6 companies up to this date, indicating that SAMA is considering the remaining applications.

 

He also emphasized that licensed banks and finance companies need to apply to SAMA for approval of their different finance products in compliance with the finance laws and their implementing regulations.