Traditional dress is mandatory for Saudi civil servants    Minister Al Ibrahim calls for enhanced global cooperation at WEF meeting in Riyadh    Saudi Finance Minister stresses importance of Vision 2030 at WEF Special Meeting in Riyadh    Saudi Arabia, EU strengthen energy collaboration with upcoming MoU    NEOM secures SR10 billion revolving credit facility to support development initiatives    HONOR opens two HONOR exclusive service centers in Saudi Arabia to bring better customer experience    Saudi Arabia to host World Investment Conference amidst economic expansion    Saudi minister announces 10% increase in tourist numbers in Q1 2024    UK forces may be deployed on the ground in Gaza to help deliver aid    Trump VP contender Kristi Noem defends killing her dog    Conservative MP and ex-minister Daniel Poulter defects to Labour    Saudi Drug enforcement contributes to thwarting 47 kilograms of cocaine smuggling in Spain    Al Hilal triumphs over Al Fateh in a fierce 3-1 clash at Kingdom Arena    Al Shabab overpowers Al Ittihad with a 3-1 victory in Jeddah    Saudi Olympic team exits U-23 Cup in quarterfinals, loses Paris 2024 Olympics dream    'Zarqa Al Yamama': Riyadh premieres first Saudi opera    Riyadh Season announces first overseas event with boxing gala in Los Angeles    Australian police launch manhunt for Home and Away star Orpheus Pledger    Spice Girls reunite at Posh's 50th birthday    Aspiring fencer Josh Brayden aims for Olympic glory    JK Rowling in 'arrest me' challenge over hate crime law    Trump's Bible endorsement raises concern in Christian religious circles    Hollywood icon Will Smith shares his profound admiration for Holy Qur'an    We have celebrated Founding Day for three years - but it has been with us for 300    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Housing Finance Conference explores the role of FinTech
Published in The Saudi Gazette on 09 - 03 - 2019

A group of real estate experts and specialists in the housing and financing sector stressed the importance of FinTech's role in developing the mortgage financing market in Saudi Arabia. The experts were speaking during the "What is The Role of FinTech in The Mortgage Market?" session at the 2nd Annual Saudi Housing Finance Conference held this week here.
The panel discussion was attended by Mansour Bin Madi, adviser to the director general, Real Estate Development Fund; Abdulelah Al Al-Shaikh, CEO of Saudi Home Loans; Muhab Benten, director general, building technology stimulus initiative in the Ministry of Housing; Abdullatif Al Abdullatif, VP of digital transformation in the National Digital Transformation Unit; and Nejoud Al Mulaik, director of FinTech Saudi.
During the session they discussed how FinTech can support the financial ecosystem of the country and help Saudi Arabia become a hub for financial technologies that benefit banks, investors, companies, universities, and all government organizations, as well as increase digital financial transactions.
They also demonstrated how FinTech would contribute to the development of the mortgage financing market and help beneficiaries to find the perfect home. The panellists pointed out that FinTech will contribute to entrepreneurship, job creation, and human capital development. The participants in the panel discussion pointed out that FinTech will play a crucial role in protecting the data of mortgage beneficiaries, as well as contribute to the transfer of ownership and digitalizing of government procedures, which is in line with Vision 2030.
The REDF conference also tackled the issue that prevents the mortgage market from developing during a panel discussion entitled "Building a vibrant and sustainable housing finance sector". The session was attended by Saud Bin Talal Al Saud, adviser to the minster and general supervisor, Ministry Agency for Housing Support and Branches and International Cooperation; Mazin Al Ghunaim, CEO of Bidaya Home Finance; Sultan Al Hamidi, VP & head of consumer assets division in Bank Al Jazira; Mahmoud Dahduli, head of retail sector in REDF; Maren Kasper, acting president, EVP & COO at Ginnie Mae; and Fabrice Susini, CEO of the Saudi Real Estate Refinance Company.
During the session, the participants discussed how 68% of Saudi citizens benefit from mortgage finance or bank loans.
They also highlighted examples of the policies needed to support the sustainability of the housing finance sector in the Saudi market. In addition, they presented some international case studies and discussed the importance of educating homebuyers.
During the last session entitled "Investment opportunities in the Saudi housing sector", the panelists talked about the importance for seizing investments opportunities in the Saudi housing market, which is valued at nearly one trillion Saudi riyals. In addition, the budget allocated to finance projects with new building technologies reached nearly SR14 billion. This session was attended by Tareq Almusharaf, investment and treasury, division director in REDF; Walid Alhazzaa, real estate development adviser in the Ministry of Housing; Mona Alnemer, manager, investment products issuance department in the Capital Market Authority; Wassim Bou-Ghanem, adviser to the CEO, Khair Capital; and Abdulfattah Kurdi, director – head of real estate in Raidah Investment Company. — SG


Clic here to read the story from its source.