New rules that can transform Saudi Arabia into a marketing market exceeding Spain

The Kingdom of Saudi Arabia seeks to stimulate the issuance of assets returned by assets, in a step that is expected to establish a market in which similar markets exceed a number of European countries, according to what the participants in the sector consider. On April 29, the deadline set by the Saudi Capital Market Authority is to receive observations about the proposals to amend the regulatory rules of special purposes. The concept amendment project shows that the purpose of the amendments is to “improve the attraction of special purposes as a legal entity for issuing debt instruments and investment units by improving their management, developing their procedures and enabling honesty operations.” Swimming operations that aim to adopt loans, such as mortgages, and sell them in the form of mortgage -like financial instruments, usually via a special entity (company). Experts in the sector said that the proposed amendments to the rules of entities of a special purpose are an essential step to activate its use in the sparkling transactions. The commission does not specify a timetable for the amendments to come into effect, but it involves strengthening the protection of guilt of debt instruments and the treatment of conflict of interest. A commission spokesman refused to comment on the case. Saudi Arabia reduces the requirements of bond offerings, amid the focus on strengthening the Saudi debt market, allowing investment funds into facilities with a special purpose to finance Saudi Arabia and the projects of the region. The wealth of the market returned by the market can form an effective tool for banks to liberalize their public budgets, while the need to finance large infrastructure projects within the “Vision 2030” led by Crown Prince Mohammed Bin Salman. This market also opens the door for emerging financial technology businesses to obtain the necessary financing for expansion and fill the gaps that the big banks cannot meet, especially in the consumer financing sector. ‘There are great opportunities in Saudi Arabia for mortgage loans, consumer loans, small and medium -sized loans, in addition to future income flow. Hassan pointed out that the Kingdom could turn into a major source of supply offers, exceeding some major European countries, which added that the securities offered by the assets were offered in the public market in the puppet of approximately $ 8 billion (Ekentrums to $ 9.1 billion) over the past year, according to data collected by ‘Bloomberg’. approved, in a role similar to what Fannie Mae does in the United States. by ‘Bloomberg’. With the increasing focus on banks on financing huge projects, the interest in the financing of individuals has decreased, creating a gap that can block the management market, “says Salim Navo, a partner in law firm A&O Shearman. Several financing options try to provide various financial technology businesses to provide the Saudi market, including Car loans.