Sama forces banks and insurance companies to deal only with authorized real estate residents

The Saudi Arabian Monetary Agency (SAMA) has forced banks, state-owned banks, public insurance companies, and finance companies to only deal with evaluators licensed real estate agents who are allowed to practice the assessment.

This is what an official source of the Saudi Monetary Agency (Sama) told the Al-Madina newspaper, noting that the circular sent by Sama was forcing banks, companies to 39, insurance and finance to provide the client with a copy of the appraisal report. "The Ministry of Commerce and Investment has started organizing inspection visits earlier this month to offices and real estate companies from different regions to make sure they adhere to the accredited resident system and not to practice the profession of assessor. .