Fentech protects mortgage user data

During a session at which the CEO of Saudi Housing Finance Company participated

Real estate experts and housing and finance experts emphasized the importance of the role of the financial technology sector in the development of the Kingdom's mortgage market and the support of the financial technology system to make the Kingdom an important center for financial technologies, including banks, investors, businesses, universities and all state institutions. Digital financial transactions.
"The role of the financial technology sector in the mortgage market", with the participation of the adviser to the General Supervisor of the Mansour bin Madi Real Estate Development Fund and the Director General of the Saudi Housing Finance Corporation, Abdulla Al Sheikh, Mahab Benten, Vice President of the National Center for Digital Transformation, Abdullatif Al-Abdalatif, and Vantec's Director, Saudi Arabia, Najoud Al Malik.
During the session, the experts examined how FTIC would contribute to the development of the mortgage market for beneficiaries wishing to buy a home and suitable housing, as well as the future of FTIC in the mortgage market. Information technology, product and service development, support for entrepreneurship and real estate market development in the Kingdom.
They discussed promoting the development of technology products and services to support financial integration and non-monetary society, as well as solving the problem of financial integration, as well as the growth of the sector biotechnology, the diversification of the Saudi economy, the creation of jobs for highly qualified citizens and the development of human capital.
All pointed out that the financial technology sector was in line with the 2030 Kingdom's vision of protecting real estate financing recipient data in the Kingdom and transferring ownership and automation of government procedures, thereby contributing to market development. real estate and the development of the housing sector in the Kingdom. Through transparency and cost reduction at the lenders, they can easily convert the title.
Prince Saud Bin Talal Badr, Advisor and General Supervisor of the Ministry of Housing and Branches and General Supervisor of the General Department of International Cooperation of the Ministry of Housing, welcomed the recovery of the housing sector in the Saudi real estate market. With 68% of the community benefiting from mortgage financing or a bank loan.
Mazen Bin Ahmed Al Nuaim, President and CEO of Bidaya Home Finance, Sultan Al Humaidi, Vice President and Head of Personal Finance at Al Jazeerah Bank, Mahmoud Dahdouli, Manager of the Citizen Experience Sector of the Real Estate Development Fund, as well as Marin Kasper, Executive Vice President and Chief Operating Officer of the National Mortgage Association; CEO of Saudi Mortgage Refinancing Company.
Speakers gave examples of policies needed to strongly support the sustainable housing finance sector in emerging markets, reviewed some of Saudi Arabia's lessons learned from other market experiences, pointed out the importance of educating those who wish to own a home and promote housing finance products.
At the closing session titled "Investment Opportunities in Saudi Housing Sector", Tariq Al-Mishref, Director of Investment Sector at the Real Estate Development Fund, emphasized the importance of Exploit opportunities for investment in the sector.
He pointed out that the number of homes built using new technology should be 50% in the next five years.
The real estate investment advisor to the Ministry of Housing, Walid Al-Hazza, the director of the investment products issuance department of the Financial Markets Authority, Mona Al-Nimr, the general manager of Al-Khair Capital, Waseem Bou Ghanem, and the real estate manager of the leading investment company Abdelfattah Al-Kurdi, Promising to close the market to one trillion riyals.
They pointed out that the budget allocated to financing projects adopting new technologies up to 14 billion Saudi Riyals.
Participants emphasized that the Ministry of Housing plays a major role in the development of the real estate sector in the Kingdom, stressing that property developers also have a role to play in this regard and that Faisal in this area was the ability to provide and to provide and improve the level and quality of the services provided.
The housing finance conference in Saudi Arabia has been marked by a number of roundtables and meetings on several topics, including the role of legislators in regulating housing investment, practices and policies. needed to support the sustainable housing finance sector, the future of the Fintec sector in the mortgage market, Financial institutions are boosting the housing sector and providing residential investment opportunities in Saudi Arabia.