Dealing with the Licensed Real Estate Brokers in Accordance with the Relevant Laws and Regulations

Saudi Central Bank (SAMA)
Reference No.: 44094621
Date: 1444/12/22
Attachments: None

Circular

To the Respected, Peace, mercy, and blessings of God be upon you,

Subject: Emphasizing Compliance with Dealing with the Licensed Real Estate Broker from the General Authority for Real Estate in accordance with relevant systems and regulations.

In light of the responsibilities and objectives entrusted to the Central Bank under its system issued by Royal Decree No. (M/36) dated 11/4/1427 AH and related systems, which include supporting financial sector stability and enhancing confidence in it; and referring to the Real Estate Brokerage System issued by Royal Decree No. (M/13) dated 30/11/1443 AH, which stipulates in Paragraph (1) of Article Four that "Real estate brokerage and real estate services shall not be practiced or provided except after obtaining a license from the Authority."

Therefore: The Central Bank emphasizes the importance of financial institutions under its supervision to comply with the provisions of the Real Estate Brokerage System, and not to deal or contract with a real estate broker who is not licensed by the General Authority for Real Estate in accordance with relevant systems and regulations. Licensed brokers can be verified and inquired about via the General Authority for Real Estate's website.

Website Link:
https://eservicesredp.rega.gov.sa/auth/queries/Brokerage

Respectfully,
The Respected

Yazeid bin Ahmed Al-Sheikh
Deputy Governor for Supervision

Distribution Scope:

• All institutions under the supervision and oversight of the Saudi Central Bank.

+966 11 463 3000
P.O. Box 2992, Riyadh 11169, Kingdom of Saudi Arabia | Tel: +966 11 463 3000