Riyadh-Mubasher: The Saudi banks, which will offer the accelerated loan programme, will submit on Thursday their offers and bids to the Saudi Real Estate Development Fund (REDF) after amendments of such offers and bids, said Talat Hafiz, secretary general of the media and banking awareness committee of Saudi banks.

He added that if the programme is finally approved, it will be subject to some considerations like other loans, including the credit policy of each bank or financing entity, and the regulations controlling the mortgage financing, Al-Riyadh newspaper reported.

The institutions were scheduled to offer their offers last Monday, but REDF extended the deadline until Thursday.