Tag: Saudi Authority for Accredited Valuers

Arabic

The Chief Executive Officer of the Saudi Authority for Accredited Valuers,

after perusal of article 28(16) of the Law of Accredited Valuers issued by Royal Decree D/43 dated 9 Rajab 1433 [11 February 2022], which includes the authorization of the board of directors of the authority to issue decisions and rules relating to the profession,

and after perusal of article 8(11) of the Powers of the Saudi Authority for Accredited Valuers Regulation issued by the board of directors of the authority decision 3/B/23 dated 6 Muharram 1445 [24 July 2023], which includes the authorizaton of the chief executive officer of the authority to issue decisions and rules relating to the profession,

hereby decides

First

The Rules Governing the Provision of Real Estate Valuation Services to Financing Entities are hereby approved.

Second

The rules must be published in the official gazette, and come into force from 1 November 2024. They repeal any decisions in conflict with them.

Engineer Faisal bin Bader Al-Mandeel
Chief Executive Officer

Issued on: 15 Muharram 1446
Corresponding to: 21 July 2024

Published in Umm Al-Qura 5041 issued on 2 August 2024.

Arabic

The Chief Executive Officer of the Saudi Authority for Accredited Valuers,

based on the powers entrusted to him by law,

after perusal of article 28(16) of the Law of Accredited Valuers issued by Royal Decree D/43 dated 9 Rajab 1433 [29 June 2012], which includes the authorisation of the board of directors of the authority to issue decisions and rules relating to the profession,

after perusal of article 28(10) of the Executive Regulation of the Accredited Valuers Law issued by the Minister of Finance Decision 107 dated 28 Muharram 1445 [15 August 2023], which includes the power to exempt from the availability of membership status to some of the valuers and those participating in the preparation of the value report,

and after perusal of article 8 (11) of the Regulation of Powers of the Saudi Authority for Accredited Valuers issued by the board of directors of the authority decision 3/B/23 dated 6 Muharram 1445 [24 July 2023], which includes the authority of the chief executive officer of the authority to issue decisions and rules relating to the profession, and the rules applicable to the relevant statutory provisions, including the authority to make exceptions stipulated in the executive regulation and the general rules of the fellowship certificate,

hereby decides

First

The Rules Governing Professional Certificates are hereby approved in the form attached.

Second

The rules must be published in the official gazette, and come into force from 1 January 2025, and repeal any decisions in conflict with them.

Engineer Faisal bin Bader Al-Mandeel Chief Executive Officer

Issued on: 18 Dhu Al-Hijja 1445
Corresponding to: 24 June 2024

Published in Umm Al-Qura 5040 issued on 26 July 2024.

Arabic

The Chief Executive Officer of the Saudi Authority for Accredited Valuers,

based on the powers entrusted to him by law,

and after perusal of paragraph 3 of article 8 of the Regulation of Powers of the Saudi Authority for Accredited Valuers Regulation issued by decision 3/B/23 of the board of directors of the authority on 6 Muharram 1445 [24 July 2023],

hereby decides

First

The Professional Criteria for Vehicle Damage Valuation is hereby approved in the form attached.

Second

The criteria must be published in the official gazette and comes into force from the date of its publication. It repeals any decision in conflict with it.

Engineer Faisal bin Bader Al-Mandeel
Chief Executive Officer

Issued on: 19 Dhu Al-Qa’dah 1445
Corresponding to: 27 May 2024

Published in Umm Al-Qura 5034 issued on 31 May 2024.

Arabic

The Chief Executive Officer of the Saudi Authority for Accredited Valuers,

based on the powers entrusted to him by law,

after perusal of article 28(16) of the Law of Accredited Valuers issued by Royal Decree D/43 dated 9 Rajab 1433 [11 February 2022], which includes the authority of the board of directors of the authority to issue decisions and rules relating to the profession,

and after perusal of article 8(11) of the Powers of the Saudi Authority for Accredited Valuers Regulation issued by the board of directors of the authority decision 3/D/23 dated 6 Muharram 1445 [24 July 2023], which includes the authoriszaton of the chief executive officer of the authority to issue decisions and rules relating to the profession,

hereby decides

First

The Rules Governing the Branch for Vehicle Damage Valuation are hereby approved in the form attached.

Second

All existing assessment centers and all those carrying out vehicle damage assessment work must rectify their status in accordance with the provisions of the rules approved in clause First of this decision.

Third

The rules and decision must be published in the official gazette and come into force from the date of their publication. They repeal any decisions in conflict with them.

Chief Executive Officer
 Engineer Faisal bin Bader Al-Mandeel

Issued on: 4 Dhu Al-Qa’dah 1445
Corresponding to: 12 May 2024

Published in Umm Al-Qura 5032 issued on 17 May 2024.

Arabic Auto Translate

Issued on: 28/1/1445
Corresponding to: 15/8/2023

Published in Umm Al-Qura 4997 issued on 8 September 2023.

Arabic Auto Translate

Issued on: 6/1/1445
Corresponding to: 24/7/2023

Published in Umm Al-Qura 4997 issued on 8 September 2023.

Arabic

Decision of the Board of Directors of the Saudi Authority for Accredited Valuers 1/40/B/23 of 6 Muharram 1445

The Board of Directors of the Saudi Authority for Accredited Valuers,

based on the powers entrusted to it by law,

after perusal of article 28 of the Law of Accredited Valuers issued by Royal Decree D/43 dated 9 Rajab 1433 which states: “The board shall exercise the powers necessary to manage the affairs of the authority and achieve its objectives stipulated in this law, and in particular, it has the following: 8. Adding other valuation branches.”

hereby decides

First: The addition of the precious metals and gemstones valuation branch to accredited valuation branches is hereby approved.

Second: This decision must be published in the official gazette, and comes into force on the date of its publication.

May Allah provide success.

His Excellency Mr Mohammed bin Abdullah Al-Jadaan
Minister of Finance 
Chairman of the Board of Directors of the Saudi Authority for Accredited Valuers

Issued on: 6/1/1445
Corresponding to: 24/7/2023

Published in Umm Al-Qura 4997 issued on 8 September 2023.

Arabic

The Board of Directors of the Saudi Authority for Accredited Valuers,

based on the powers entrusted to it,

after perusal of article 28 of the Law of Accredited Valuers, which states: “The board shall exercise the powers necessary for the conduct of the affairs of the authority and the achievement of its objectives stipulated in this law. In particular, it has the following: 2. Reviewing, developing, and approving valuation standards, code of conduct, and the programme for monitoring the quality of professional performance.”

and after perusal of the Code of Conduct and Ethics of the Valuation Profession issued by board decision 7/39/B/23 dated 11 Ramadan 1444,

hereby decides

First: The Code of Conduct and Ethics of the Valuation Profession is hereby approved in accordance with the form attached.

Second: The code must be published in the official gazette, and comes into force after the lapse of 30 days from the date of its publication.

May Allah provide success.

His Excellency Mr Mohammed bin Abdullah Al-Jadaan
The Minister of Finance Chairman of the Board of Directors of the Saudi Authority for Accredited Valuers

Issued on: 6/1/1445
Corresponding to: 24/7/2023

Published in Umm Al-Qura 4997 issued on 8 September 2023.

Arabic Auto Translate

Issued on: 6/1/1445
Corresponding to: 24/7/2023

Published in Umm Al-Qura 4997 issued on 8 September 2023.

Arabic

The Board of Directors of the Saudi Authority for Accredited Valuers,

based on the powers entrusted to it by law,

After perusal of article 28 of the Law of Accredited Valuers, which states: “The council shall exercise the powers necessary for the conduct of the affairs of the authority and the achievement of its objectives stipulated in this law. In particular, it shall have the following: 2. Reviewing, developing and approving evaluation standards, codes of conduct, and quality control programme for monitoring the professional performance ”

after perusal of the Professional Performance Quality Control Programme approved by Council Decision 6/39/B/23 dated 11 Ramadan 1444 [2 April 2023],

hereby decides

First

The Professional Performance Quality Control Programme is hereby approved in the form attached

Second

The programme—approved in clause First of this decision—hereby replaces the Professional Performance Quality Control Programme approved by Council Decision 6/39/B/23 dated 11 Ramadan 1444 [2 April 2023], and comes into force from its date. It must be communicated to those necessary for its implementation.

May Allah provide success.

His Excellency Mr Mohammed bin Abdullah Al-Jadaan
Minister of Finance, Chairman of the Board of Directors of Saudi Authority for Accredited Valuers

Issued on: 6/1/1445
Corresponding to: 24/7/2023

Published in Umm Al-Qura 4997 issued on 8 September 2023.