Beneficiaries of the subsidized financing program can transfer their loans to a first-degree relative in accordance with a set of regulations and rules, said Turki Al Dahmash media manager at the Real Estate Development Fund (REDF).
First-degree relatives include parents, one son/daughter, and siblings, under certain conditions.
A special committee studies the transfer requests, to assure the criteria is met, which includes that the person receiving the transfer is an employee who is able to fulfill the due payments and has never obtained a loan from the fund.
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