Summary: MAKKAH: A number of government bodies including the Finance Ministry were currently considering the privatization of a number of government funds including the Real Estate Development Fund (REDF), the Saudi Credit Bank (SCB), the Centennial Bank (CB) and others, local daily Al-Madinah reported Friday quoting an official source.
According to the source, the step was aimed at ensuring these funds would be able to increase their capital, especially now there are additional resources to augment the provisions allotted to them by the government in the general budget. "When they become fully private, the funds will be able to create mechanisms of collecting their …
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