Regulatory Alerts2019-06-10
Financing Product for Private Dental Healthcare Facilities
The Saudi Central Bank issued a circular directing banks and financing companies in the Kingdom to launch a dedicated financing product for private dental healthcare facilities. Aligned with a Royal Order, the directive aims to create employment opportunities for Saudi dental graduates by enabling them to establish specialized private clinics. Financial institutions are authorized to coordinate with the Social Development Bank and tailor loan structures to meet dentists' operational needs.
In the Name of Allah, the Most Gracious, the Most Merciful
Saudi Central Bank Office of the Deputy Governor for Supervision Headquarters
No. : Attachments: None
Circular
No. 59878/67 Date: 1440/10/07 Attachments: None
To the Esteemed,
Peace, mercy, and blessings of Allah be upon you.
Subject: Financing Product for Private Dental Healthcare Facilities.
I refer to the Royal Order No. 52757 dated 1439/10/17 AH, which in Item (First) approved the recommendations of the committee established by Royal Order No. 58005 dated 1437/12 AH to study the employment opportunities for dental college graduates from all aspects, and which included instructing the Saudi Central Bank and the Social Development Bank to coordinate and authorize banks to launch a financing product for private dental healthcare facilities.
In line with the objectives of the aforementioned Royal Order to create employment opportunities for Saudi dental college graduates, the Bank urges banks, commercial banks, and financing companies to launch a financing product to support Saudi dentists in establishing their private facilities, meeting their needs and aligning with their scientific specializations.
Yours sincerely,
Fahd bin Ibrahim Al-Shathri Deputy Governor for Supervision
Distribution Scope:
- Banks and commercial banks operating in the Kingdom.
- Financing companies operating in the Kingdom.
P.O. Box 2992, Riyadh 11169, Tel: 4662300 - Fax: 4662543