Regulatory Alerts2018-03-06
Time Plan to Correct Real Estate Registered in the Names of Finance Institutions
The Saudi Central Bank issued this directive requiring all licensed financial institutions to implement a structured time plan for correcting real estate assets registered under their names. The regulation mandates the transfer or disposal of such properties to comply with banking laws that prohibit banks from holding real estate except for specific operational or collateral purposes. Financial institutions must adhere to the prescribed deadlines and reporting requirements to ensure full regulatory compliance and mitigate asset concentration risks.
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