Approval of the Property Document Issued by the Economic Cities Authority

In the Name of Allah, the Most Gracious, the Most Merciful

Saudi Arabian Monetary Authority Headquarters

Office
Deputy Governor for Supervision

Ref. No.: 71844/99
Date: 03/12/1440 AH
Attachments: None

Circular

Dear Sirs,
Peace, mercy, and blessings of God be upon you,

Subject: Regarding the Approval of the Property Document Issued by the Economic Cities Authority

Further to the Authority's Circular No. 53148/M/A dated 06/12/1433 AH addressed to banks operating in the Kingdom, and Circular No. 3610001100001 dated 13/08/1436 AH addressed to mortgage financing companies operating in the Kingdom, both of which stipulate the "approval of the property document issued by the Economic Cities Authority",

Accordingly, the Authority wishes to confirm to banks and mortgage financing companies operating in the Kingdom that the property document issued by the Economic Cities Authority for any property or land owner within the Economic Cities must be approved as an official approved ownership document, serving in place of the approved ownership deed outside the Economic Cities.

For your information and compliance.

Yours sincerely,

(Signature)
Fahd bin Ibrahim Al-Shathri
Deputy Governor for Supervision

Distribution Scope

• Banks and financial institutions operating in the Kingdom.
• Mortgage financing companies operating in the Kingdom.

P.O. Box 2992, Riyadh 11169, Tel: 4662300 - Fax: 4662543