Saudi Arabia Completes Regulations for 3 of 5 New Mortgage Laws
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Saudi Arabia issued final regulations on real estate financing, leasing and the supervision of financial companies as the kingdom tries to ease a housing shortage by opening up its mortgage market and enacting the first home-loans law.
The regulations outlining three of the five laws that make up the package of changes were posted yesterday on the website of the Saudi Arabian Monetary Agency. Rules on the enforcement of foreclosures and mortgage registrations have yet to be completed.