Saudi MoJ expands e-conveyance of property to cover additional banks

The service enables clients to securely sell and transfer title to property through the Najiz.sa portal: ministry

  
People are seen at the General Court in Riyadh, July 24, 2018.Image used for illustrative purpose.

People are seen at the General Court in Riyadh, July 24, 2018.Image used for illustrative purpose.

REUTERS/Faisal Al Nasser

RIYADH — Saudi Arabia's Ministry of Justice (MoJ) has expanded e-conveyance of property to cover Alinma and Al Rajhi banks in addition to NCB, in cooperation with the Saudi Arabian Monetary Authority (SAMA).

“The expansion aims to serve more clients by allowing deposit of transaction value into their accounts at any of the three banks," the MoJ said.

“The service enables clients to securely sell and transfer title to property through the Najiz.sa portal, without having to visit any bank or notarial office,” the ministry added. “The process is completed electronically without any human intervention.”

It is noteworthy that the ministry has raised the upper property value limit for e-conveyance to SAR 3 million, in order to streamline transactions and save clients time and effort. — SG

 

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