Based on the powers granted to SAMA under Saudi Arabian Monetary Authority Law issued by Royal Decree No. (23) dated 23/5/1377 AH, the Banking Control Law issued by Royal Decree No. (M/5) dated 22/2/1386 AH, and the Finance Companies Control Law issued by Royal Decree No. (M/51) dated 13/8/1433 AH, and referring to the White Land Tax Law issued by Royal Decree No. (M/4) dated 12/2/1437 AH, and its Executive Regulations issued by the esteemed Council of Ministers’ Decision No. (379) dated 8/9/1437 AH.

SAMA emphasizes that banks and financing companies must register land subject to the fees within the specified period to avoid financial penalties for the actual owners.