Banque Saudi Fransi provides Escrow account management services for Real Estate Developers to meet Off-Plan Sales or Rent committee (WAFI) and Saudi Arabian Monetary Agency (SAMA) requirements and procedures, the services include but not limited to:
Open & Operate 6 Sub accounts for each project (Marketing, Construction, Retention, Incentives by Ministry of Housing MOH, Developer loan account and purchase commitment fee) with specified fund distribution mechanism.
Competitive Fees to manage the escrow account.
Monthly and Quarterly Report and Statement will be sent to WAFI, Developer, Accountant and Engineering Consultant.
A dedicated Expert Relationship Manager to manage the Escrow account.