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Article 5
Effective from 2022-04-26 - Oct 22 2022
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The Company shall not: | |
1. | Provide finance to a real estate financier using real estate finance contractual rights as collateral before making arrangements that ensure that such rights have been transferred to the real estate refinance company as collaterals. |
2. | Extend real estate finance directly to borrowers. |
3. | Acquire real estate/non-real estate assets other than those necessary to manage its business unless it has obtained a no-objection letter from SAMA. |
4. | Undertake partial or complete liquidation of its activity or itself as a whole without obtaining a no-objection letter from SAMA. |