Banks valuation process should be carried out by valuers who possess the necessary qualifications, ability and experience to execute a valuation and who are independent of the credit decision process.

Banks should ensure compliance with SAMA circular no. 371000061185 dated 28/05/1437AH on "Obligations of Real Estate Appraisal Clients Subject to SAMA Supervision" and the revision made to the said circular through circular no. 65768/99 dated 25/10/1439AH along with all relevant regulatory requirements in that regard.