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FINANCIAL NEWS
Saudi denies imminent approval of new mortgage law
04 May 2010
(MENAFN) A senior Saudi official denied recent reports saying that the council of ministers is expected to approve the long-awaited mortgage law this week, Reuters reported.
The Secretary General of the council of ministers, Abdul-Rahman Al-Sadhan, said that his previous remarks about approving the law were misinterpreted, and he only expressed hope that this law would be approved soon.
This long-awaited mortgage law has been in the planning stages for almost 10 years.
The law is expected to revive a slowing lending market as it would cater to a larger proportion of housing demand in a country where less than a third of the population owns a home.
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24 May 2023
Empowering Success: BBK and BIBF honor 24 graduates of the BBK’s Women on Board Programme
16 Mar 2023
BBK partners with Four Seasons Private Residences Bahrain Bay to offer ownership financing for 112 waterfront homes.
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