A training course for financial services sector employees involved in real estate has been launched by the Real Estate Regulatory Authority (Rera).

This was implemented as part of measures to further strengthen the real estate valuation process and practice, said the authority in a statement yesterday.

“Rera is introducing a Real Estate Valuation course designed specifically for bank and financial institution employees who commission or require real estate valuation reports as part of their role, for example mortgage brokers, commercial lending managers, risk assessment, audit or asset managers,” it said.

Given the current challenges, the one-day course will be delivered by webinar in collaboration with RICS (The Royal Institution of Chartered Surveyors) and BIBF (Bahrain Institute of Banking and Finance).

The first training session will take place on Tuesday 2020 from 9am to 5pm. To register email realestate@bibf.com. As per the Law 27 and with effect from May 2, 2020, all real estate valuations must be conducted by Rera licensed real estate valuers.

This includes valuations commissioned by government agencies, banks and other financial institutions licensed by the Central Bank of Bahrain, companies and private individuals.”

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