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Saudi eyes Fannie Mae-style firm in home loan push

Posted on 01 June 2009

From Reuters: Saudi Arabia plans to set up a Fannie Mae-style company to buy mortgages from financial institutions and help develop national sukuk and debt markets, Saudi Arabia’s finance minister said.

The company would be formed in conjunction with Saudi Arabia’s first mortgage law, which should come into effect before the end of the year, Ibrahim al-Assaf said in an interview in Oman on Saturday…….Full Article: Source

 
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