Saudi Cabinet approves REDF law, sets up risk classification units

05/01/2021 Argaam


Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud 

Saudi Arabia’s Cabinet approved the Real Estate Development Fund (REDF) law.

 

It also approved to set up a central risk classification unit for the Ministry of Finance and another central risk classification unit for ministries and government authorities.
 

Moreover, the General Authority for Awqaf (AWQAF) was granted the powers to oversee endowments across the Kingdom.

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