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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.