Regulatory Alerts2025-10-15
Sharing Residential Real Estate Finance Data with the Saudi Credit Bureau (SIMAH)
The Saudi Central Bank (SAMA) mandates all domestic banks, real estate finance companies, and credit information providers to share individuals' residential mortgage data with the Saudi Credit Bureau (SIMAH), effective immediately. This circular, grounded in multiple Royal Decree laws and the Personal Data Protection Law, requires entities to adhere to forthcoming SAMA guidelines to strengthen financial sector integration, enhance transparency, and mitigate credit risks. Compliance is enforced across all operating financing institutions to ensure standardized data reporting and accurate credit rating assessments.
Saudi Central Bank (SAMA)
Document Number: 672025627
Date: 1447/04/23
Attachments: None
Circular
To: Respected Entities,
Peace, mercy, and blessings of God be upon you.
Subject: Sharing Residential Real Estate Finance Data with the Saudi Credit Bureau (SIMAH).
Based on the Saudi Central Bank Law issued by Royal Decree No. (36/M) dated 1426/04/11 AH, the Credit Information System Law issued by Royal Decree No. (37/M) dated 1429/07/05 AH, the Banking Control Law issued by Royal Decree No. (5/M) dated 1386/02/22 AH, and the Financing Companies Control Law issued by Royal Decree No. (51/M) dated 1433/08/13 AH, and in reference to the Saudi Central Bank's efforts supporting the integration of the financial sector system, information linkage between financing entities, and enhancing transparency levels and credit rating monitoring through providing tools that help mitigate credit risks associated with financial transactions in any economic activity.
Accordingly, the Saudi Central Bank confirms that all financing entities must comply with sharing individuals' data related to residential real estate finance with the Saudi Credit Bureau (SIMAH), in accordance with the guidelines and methodologies to be shared regarding this matter, while emphasizing compliance with laws and regulations issued by the Saudi Central Bank and other relevant regulatory authorities, as well as provisions of the Personal Data Protection Law.
For information and implementation effective from its date.
The President
Yours sincerely,
Yazed bin Ahmed Al-Sheikh
Deputy Governor for Supervision
On behalf of / Muhabbin bin Abdulmohsen Al-Yousef
Deputy Governor for Monetary and Financial Stability
Distribution Scope:
- Banks and financial institutions operating in the Kingdom.
- Real estate finance companies.
- Credit information companies.
P.O. Box 2992 Riyadh 11169, Kingdom of Saudi Arabia Tel: +966 11 463 3000
Phone: +966 11 463 3000 - P.O. Box 2992, Riyadh 11169, Kingdom of Saudi Arabia