Regulatory Alerts2023-10-07
Dealing with the Licensed Real Estate Brokers in Accordance with the Relevant Laws and Regulations
The Saudi Central Bank (SAMA) mandates that all supervised financial institutions comply with the Real Estate Brokerage System by prohibiting dealings or contracts with unlicensed real estate brokers. Institutions must verify broker licenses via the General Authority for Real Estate’s official website prior to engagement, as stipulated in Royal Decree No. (M/13). This directive reinforces financial sector stability and ensures strict regulatory adherence across the banking landscape.
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