SAMA working with banks, govt to implement housing strategy: Alkholifey

Saudi Arabian Monetary Authority (SAMA) is coordinating with banks and government entities to implement the Kingdom’s housing strategy, SAMA Governor Ahmed Alkholifey said on the sidelines of the Euromoney Conference.

“We, in cooperation with ministries of justice and housing, facilitated loan arrangement measures, which helped inject more cash in the industry,” Alkholifey said.

The move was aimed at reviving the mortgage market, which witnessed some slowdown compared to consumer financing portfolios, corporate loans and small and medium enterprises (SMEs) financing, Alkholifey said.

“The COVID-19 pandemic didn’t have a significant impact on the mortgage housing loans,” he noted.