IslamicFinance.de

WITH the Saudi mortgage law expected to be passed imminently, several banks and companies have been adopting strategies to leverage the huge opportunities in the Saudi real estate development, financing and affordable housing sectors.
The Islamic Corporation for the Development of the Private Sector (ICD), the private sector funding arm of the Islamic Development Bank (IDB) Group, for instance has devised a unique three-pronged strategy which involves the establishment of a Shariah-compliant real estate development company, a real estate development finance company and a mortgage finance company.