A recently published study in Riyadh revealed that the private Saudi banks are interested in contributing to the development of the housing sector in the Kingdom, reported Al-Sharq Al-Awsat . The study concluded that the private sector is capable of financing the local housing and construction sector however, banks usually do not grant long-term loans to finance housing. In addition, there are no laws that protect the lender in case of complications. — (menareport.com)
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