Further to SAMA's circular No.(61108/99) dated 13/10/1440H, which includes allowing the Saudi Real Estate Refinance Company to purchase residential mortgage portfolios from real estate financiers after a minimum of three months from the date of granting the financing related to those assets, or three months from the date of receiving the first installment from the beneficiary, whichever is later, with the right to recourse against the financier for six months from the date of financing.

SAMA would like to inform you that, based on its supervisory and oversight role over financial institutions, It has been decided to allow the Saudi Real Estate Refinance Company to purchase residential mortgage portfolios from real estate financiers after a minimum of one month from the date of granting the financing related to those assets, or one month from the date of receiving the first installment from the beneficiary, whichever is later, with the right to recourse against the financier for six months from the date of financing.