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Saudi Arabia plans mortgage institutions similar to US

Mon, 2009-06-01 17:31 — IslamicFinance.de

Saudi Arabia plans to set up a Fannie Mae-style company in conjunction with the upcoming mortgage law to buy mortgages from financial institutions and help develop national sukuk and debt markets, Saudi Arabia's finance minister Ibrahim al-Assaf said according to Reuters.

Source: 

http://www.reuters.com/article/reutersEdge/idUSTRE54U0OI20090531