Sharing Residential Real Estate Finance Data with the Saudi Credit Bureau (SIMAH)

Saudi Central Bank (SAMA)

---

Document Number: 672025627
Date: 1447/04/23
Attachments: None

---

Circular

To:
Respected Entities,

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

Subject: Sharing Residential Real Estate Finance Data with the Saudi Credit Bureau (SIMAH).

Based on the Saudi Central Bank Law issued by Royal Decree No. (36/M) dated 1426/04/11 AH, the Credit Information System Law issued by Royal Decree No. (37/M) dated 1429/07/05 AH, the Banking Control Law issued by Royal Decree No. (5/M) dated 1386/02/22 AH, and the Financing Companies Control Law issued by Royal Decree No. (51/M) dated 1433/08/13 AH, and in reference to the Saudi Central Bank's efforts supporting the integration of the financial sector system, information linkage between financing entities, and enhancing transparency levels and credit rating monitoring through providing tools that help mitigate credit risks associated with financial transactions in any economic activity.

Accordingly, the Saudi Central Bank confirms that all financing entities must comply with sharing individuals' data related to residential real estate finance with the Saudi Credit Bureau (SIMAH), in accordance with the guidelines and methodologies to be shared regarding this matter, while emphasizing compliance with laws and regulations issued by the Saudi Central Bank and other relevant regulatory authorities, as well as provisions of the Personal Data Protection Law.

For information and implementation effective from its date.

The President
Yours sincerely,

Yazed bin Ahmed Al-Sheikh
Deputy Governor for Supervision

On behalf of / Muhabbin bin Abdulmohsen Al-Yousef Deputy Governor for Monetary and Financial Stability

---

Distribution Scope:

• Banks and financial institutions operating in the Kingdom.
• Real estate finance companies.
• Credit information companies.

---

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