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Article 16

No: 1229 Date(g): 20/2/2013 | Date(h): 10/4/1434 Status: In-Force
1.SAMA shall license one or more companies to engage in real estate refinance activity in accordance with the Law, this Regulation, the Finance Companies Control Law and its Implementing Regulation, provided that:
 		 
 a.The license be restricted to real estate refinance activities.
 
 b.The capital of the real estate refinance company be not less than five billion riyals.
 
2.The real estate refinance company shall be subject to the supervision of SAMA in accordance with the Law, this Regulation, the Finance Companies Control Law and its Implementing Regulation and instructions issued by SAMA.