Justice Ministry Expands Electronic Real Estate Clean-out Services by Adding Seven New Banks

Riyadh, The Ministry of Justice has announced the expansion of the electronic real estate clean-out service, by making the service available through seven additional banks.

The new banks include Albilad Bank, Arriyadh Bank, SBB, AlJazira Bank, Saudi Investment Bank, ANB, and Saudi Fransi Bank, in addition to Alinma, Al Rajhi, and the SNB, in cooperation with the Central Bank of Saudi Arabia (SAMA).

The ministry said the expansion of the service procedure aims to serve a larger segment of beneficiaries by allowing them to deposit real estate transaction amounts into their bank accounts in an integrated electronic process that begins with the parties accepting the transaction, transferring the amount to the seller and transferring ownership of the property to the buyer in an electronic form, through the “najiz.sa” platform, without human intervention and without any need to visit the bank or notary to complete the transaction process, provided that the two parties are Saudis and have an active account on Absher.

Source: Saudi Press Agency