Mandatory Instructions when Submitting a Mortgage Product to Individuals

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

Saudi Central Bank
Head Office

Banking Policies Department
Ref. No.: 41059668
Date: 16/10/1441
Attachments: 7 pages

Circular

Dear Sirs,

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

Subject: Amendment of Paragraph (3) of the Mandatory Instructions when Submitting a Mortgage Product to Individuals.

Pursuant to the authorities vested in the Authority under the relevant systems, regulations, and instructions, and with reference to the Authority's Circular No. 46544/99 dated 2/9/1439H, which communicated the Mandatory Instructions when Submitting a Mortgage Product to Individuals.

Attached are the Instructions for Submitting Mortgage Products to Individuals, which include the amendment of Paragraph (3) of the aforementioned instructions to enable customers to obtain mortgage financing offers electronically, and to replace the aforementioned instructions.

For your information and action effective from its date.

Yours sincerely,

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, Telegram: MARKAZI, Telex: 404400, Tel: 4663000, Fax: 4662414

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Instructions for Submitting a Mortgage Product to Individuals June 2020

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