New SAMA regulations to boost home mortgage
The long awaited regulations on real estate financing, leasing and supervision of financial companies are now eventually being issued by the Saudi Arabian Monetary Agency (SAMA). Meanwhile, Saudi Arabia is getting ready to open up its mortgage market. The public now has to review the draft regulations. Comments and observations are to be submitted within 30 days of its publication. The regulations can be found on SAMA's website. The executive vice president of Capitas Group International - Nasser Nubani - explains that the draft mortgage regulations are a clear indication of SAMA's careful approach and striving to defend against problems due to lax regulation standards.