Privacy Policy

This Privacy Policy of the Saudi Mortgage Guarantees Company (Damanat) (the “Company“) explains how the Company’s collect, use, disclose, and protect your personal data when you visit our website (the “Company Website“).  By using the Company Website, you agree to the terms of this Privacy Policy.

About the Company and its Activity

The Saudi Mortgage Guarantees Services Company (Damanat) was established as a closed joint-stock company operating in the field of mortgage finance guarantees, with a capital of 18.6 billion riyals. It is the first of its kind in the Middle East and is wholly owned by the Real Estate Development Fund (REDF) under the supervision and control of the Insurance Authority. Its headquarters is located in Riyadh. The Company seeks to contribute to achieving the goals of Vision 2030 by supporting the housing market to raise the percentage of Saudi families’ ownership of homes to 70% and develop a secondary market for real estate mortgages in the Kingdom.

The Company aims to maintain the confidentiality and privacy of your personal data and use it to achieve the desired level of service provision to the user in accordance with the terms and conditions in force in the Kingdom of Saudi Arabia.

Contact Information

Department: [Partners Relationships]

Address: [KSA, 4512 Northern Ring Rd Hiteen Dist. Unit Number: 2 RIYADH 13512 – 6629]

E-mail: info@damanat.com.sa

License and Commercial Register: A closed joint stock company, Commercial Registration No.: 1010868250, License Number: TMN/37/202307

Data to Be Collected

The Company will collect and process the following data:

• User’s full name
• Email
• Phone and contact information
• Location data and adress
• Commercial entity information
• Bank account information (bank name/ account name/IBAN)
• Government licence/ registration/ ceritificates information
• Cookies data

We will inform you whether the collection of this data is mandatory or optional for processing purposes.

Collecting Personal Data Methods and Purposes

1. Data is collected directly through electronic forms with empty fields, drop-down lists, checkboxes, and other similar methods.
2. Data is collected indirectly through cookies collected when visiting the Company’s Website, automatic information collection, website analytics, or interconnection with another entity.

Purpose of Collecting Data

Data is collected and used for the following purposes:

1. To follow up on any inquiries, suggestions, or complaints submitted by the user.
2. completing the registration process of suppliers.
3. To improving the user’s experience.
4. To provide services directly related to the Company’s activities.

Data Processing

We process data to achieve the purposes stated above, ensuring that all uses are comprehensively defined.
Data will be processed through stages: collecting, storing, using, sharing, and destroying. Each stage involves specific operations on a specific set of data.

Data Sharing

Data may be disclosed to other entities (inside or outside the Kingdom) and provide you with information about these entities.

The main purpose of disclosing such data will be specified and whether it will be disclosed occasionally or regularly.

Personal Data Storage, Retention Period, and Destruction

Data is stored inside the Kingdom of Saudi Arabia in the servers at our headquarters or with external entities, such as cloud computing service providers, and these servers are protected with the best technologies in accordance with the policies and controls of the National Authority for Cybersecurity and international standards in order to prevent non-authorized entry and reduce cyber risks, and then the data will be destroyed within 10 years, unless a longer duration is required by law,  from the date of its storage in a secure manner, through which it cannot be viewed or retrieved again.

Necessary administrative, technical, and organizational measures are taken to protect data from incidents of leakage, damage, or illegal access.

Legal basis for collecting and processing data

The collection and processing of data is based on the consent of the personal data subject, and the personal data subject can revoke his/her consent to the collection and processing of his/her personal data at any time unless there is another legal basis, and to do so, he/she can contact the (Partners Relationships) at the Saudi Mortgage Guarantees Company (Damanat), through the following  Email [customercare@damanat.com.sa].

Rights of the Personal Data Subject

1. Right to Be Informed: you have the right to be informed about the legal basis and purpose of collecting your data.
2. Right of Access: you have the right to access your personal data held by the Company.
3. Right to Request Access: you have the right to request access to your personal data in a readable and clear format.
4. Right to Request Correction: you have the right to request correction and update of your personal data.
5. Right to Request Destruction: you have the right to request the destruction of your personal data.
6. Right to Withdraw Consent: you have the right to withdraw your consent for processing your personal data at any time.
7. Right to Submit Complaints: you have the right to submit any complaint related to applying the provisions of the Personal Data Protection Law to the Competent Authority.
8. Right to Claim Compensation: you have the right to claim compensation for material or moral damage if you are harmed as a result of any violation stipulated in the Personal Data Protection Law and its Implementing Regulations.

Complaint and Objection Filing Mechanism

In case of complaints or inquiries, please contact the relevant complaints department via email: [customercare@damanat.com.sa] and phone:
In the event that a response is not received within (ten) working days, the complaint or inquiry will be submitted to [Partners Relationships] department via email: [info@damanat.com.sa].

Policy Provisions and Update Record

1. The Privacy Policy was last updated on [10-12-2024].
2. The Company’s Website reserves the right to add or change any of the provisions of the Privacy Policy, and the Company’s Website will notify the data subject of that, and the Company Website’s has the right to terminate the account of the data subject if the data subject does not accept any change in the Privacy Policy.
3. The Arabic language is the approved language in the application of the terms and conditions, and in the event of a dispute arising in the interpretation of any text mentioned in any other language, the text written in the Arabic language shall prevail.