The basics of Saudi commercial mortgage regulations
Dimah Talal Al-Sharif
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In strictly legal terms, a commercial mortgage is a loan secured on a commercial property and used to acquire, refinance or develop commercial property.
Businessmen or traders often use this option to address financial crises.
In today’s article, we shall discuss the salient features of commercial mortgages from the perspective of Saudi laws.
A commercial mortgage is an agreement whereby a debtor or his guarantor allocates transferred money as a guarantee to secure a debt, and this includes modifications or additions to it.
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New Saudi law boosts efforts to combat financial fraud
Dimah Talal Al-Sharif
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https://arab.news/65p5h
Authorities in Saudi Arabia last week approved a new law designed to combat financial fraud and breach of trust. The new legislation defines all aspects of financial crimes in detail and sets out the maximum penalties, while attempting to take into account the rapid pace of technological advances around the globe.
The Saudi Central Bank defines fraud as “any act involving deceit to obtain a direct or indirect financial benefit by the perpetrator or by others with his help, causing a loss to the deceived party.”
Working to achieve Saudi Arabia s development goals arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.
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