Regulatory Alerts2020-01-26
Updating the mortgage finance model contract for Individuals in Murabaha and Ejarah
The Saudi Central Bank issued this circular to update the mandatory model contracts for individual mortgage financing under both Murabaha and Ijarah structures. Financial institutions operating in the Kingdom must adopt the revised templates in accordance with their internal policies no later than 24 February 2020. All mortgage financiers are strictly prohibited from executing or amending any individual mortgage contracts that deviate from these updated model agreements after the specified deadline.
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