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On the 24th of April 2018, the Council of Ministers of the Kingdom of Saudi Arabia approved the Commercial Mortgage Law (the “Law”) issued by Royal Decree No. (M/86) dated 24 April 2018.
The following are the key issues covered under the Law:
The Law has been published in the Official Gazette on the 24th of April 2018 and came into force and effect since the date of publication according to Article (47). The executive regulations of the law have been issued by the Minister of Commerce & Investment and published in the Official Gazette on the 27th of April 2018 and became into force and effect as well.
A more detailed article on the Law will be published shortly.
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