The financing institutions in the Kingdom extended to the citizens up to the end of the fiscal year 1426-1427 more than SR 333 billion. These institutions have been positively contributing to the acceleration of the development process in the country. Realizing the importance of these financing institutions, the Custodian of the two Holy Mosques King Abdullah bin Abdulaziz ordered in 1426 to provide some of the development funds with SR 25 billion from the surplus of the fiscal year 1425-1426. The financing institutions include the real estate fund, the industrial development fund, the agricultural bank, and the Saudi credit bank. The real estate bank, established in 1395 with a capital of sr 250 million, is concerned with implementing housing projects as well as urban development. Up to 1427, the real estate fund extended SR 135.835 billion worth loans to the citizens. --more
