The controls aim to achieve growth and stability in the secondary market for real estate finance, provide liquidity, ensure proper distribution of the investment capital allocated to real estate finance among the various regions and categories, and play the role of mediator between the sector and local and international sources of funding. The company may acquire the entitlements of any kind of financing obligations or rights related to the financed residential real estate, and retain or dispose of them and issue securities in accordance with the provisions of the financial market system after obtaining a letter from the Central Bank that includes no objection to the issuance programs and granting financing solutions to real estate financiers to finance the beneficiaries individuals.
The company can invest the cash available in its treasury in a way that enables it to manage its assets and liabilities with the highest possible efficiency, after obtaining a letter from the Central Bank that includes no objection, as well as issuing bonds, sukuk, permits, securities and other debt instruments to achieve its objectives and carry out any other operations that serve, complement or support Its operations are required by its system and approved by the Central Bank. The real estate refinancing company may obtain a financial compensation for its services, to ensure that all its costs and expenses are covered, and a fair profit is made from them, in a way that enables it to be financially independent on its own. The bank monitors the company’s pricing of its services and may restrict it.
Refinancing companies are prohibited from granting financing to a real estate financier by guaranteeing the rights of real estate financing contracts before making arrangements to ensure the transfer of those rights to the real estate refinancing company as guarantees and granting real estate financing to the beneficiaries directly. Not to conduct any partial or total liquidation of its activity or of the company itself without obtaining a letter from the Central Bank of its no objection.