Regulatory Alerts2014-01-01
Decision No. (130) of 2014 of the Board of Directors of the Authority Regarding the Data to be Notified by Real Estate Financing Companies to Their Clients
The General Authority for Financial Supervision issued Decision No. (130) of 2014 mandating real estate financing companies to disclose specific financial data to their clients at least every six months. The required disclosures include the total financing value, cumulative payments made, remaining installments based on current costs, and any deducted or added fees, with any subsequent modifications required to be reported within fifteen days. Companies must deliver these notifications via registered mail, express delivery, or mutually agreed alternative methods, while retaining proof of delivery to ensure regulatory compliance.
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