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  • Chapter XI: Secondary Market

    No: 43083271 Date(g): 26/4/2022 | Date(h): 25/9/1443Status: In-Force

    • Article 50

      1.The Company shall obtain a no-objection letter from SAMA before trading the programs and products relating to real estate finance contractual rights in the secondary market.
       
      2.The Company shall, before trading real estate finance contractual rights in the secondary market, prepare a report that provides a comprehensive plan in this regard. The report must be submitted to SAMA and include at least the following:
       
       a.Procedures for finance collection and sukuk structuring, and credit improvement methodologies.
       
       b.Feasibility study for the program, including its potential impact on the balance sheet of the Company, financiers, housing sector, housing finance markets and capital markets.
       
      3.The Company shall comply with the relevant laws and regulations.
       
      4.The Company shall fulfil any additional requirements SAMA may impose.
       
      5.SAMA has the right to restrict or prevent trading of real estate finance contractual rights in the secondary market.