Amlak obtains license to practice additional financing activities

Logo of Amlak International for Real Estate Finance Co.

Amlak International for Real Estate Finance Co. obtained the Saudi Central Bank’s approval on Oct. 18 to amend its license to include additional financing activities, the company said in a statement to Tadawul.

The license includes real estate financing and consumer financing, in addition to financing small and medium enterprises activity.

Amlak will start the procedures to amend the company's articles of association and present it to the extraordinary general assembly, along with amending the company's commercial register.

This step is part of Amlak’s strategy to develop its activities and products in support of small and medium enterprises projects, in line with the Vision 2030, the statement noted.

The company expects a positive impact in the medium and long term, it added.

According to the data available with Argaam, Amlak’s main activity is to conduct real estate financing for companies and individuals.