RIYADH – More than 65,000 clients have carried out property e-conveyances calculating to SR3 billion (about $800 million) since the launch of the service in February 2020, provided by the Saudi Ministry of Justice (MoJ).
“Available on the Najiz.sa portal, the service enables clients to sell and transfer title to property without having to visit any bank or notarial office,” the MoJ said.
In order to process the deal, both parties need to reveal that the provided information is correct, subject to the statutory steps.
The application is automatically dropped if it is not approved by the buyer within three days.
In participation with the Saudi Central Bank, the ministry has recently extended the e-conveyance service to cover customers of Alinma, Al Rajhi, and NCB banks.