The Saudi Central Bank (SAMA) has granted the Public Investment Fund (PIF)-backed Saudi Real Estate Refinance Co. (SRC) a no-objection clearance to launch residential mortgage-backed securities (RMBS) in the local market.

The programme is designed to strengthen the sector’s financing capacity by transforming residential real estate financing portfolios into securities.

The move will establish a robust securitisation issuance framework, reinforcing the domestic debt market, broadening the investor base, and diversifying funding sources.

(Editing by Anoop Menon)

(anoop.menon@lseg.com)

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