Middle East Economic Survey
PIF To Buy Stakes In Mortgage Lenders
Saudis Public Investment Fund (PIF) plans to buy stakes of up to 40% in the Kingdoms new mortgage lenders. PIF is making the move ahead of the mortgage law, which passed through the Shura Council last year and is expected to come into effect this year. The PIF plan would provide further institutional support for the Kingdoms move to allow more of its 25mn population to own their own homes ...