Nafith Platform Launch
On Sunday, 8/26/1441H corresponding to 4/19/2020, Minister of Justice, Dr. Walid Al-Samaani, launched Nafith Platform that allows individuals and corporates to electronically create, save, and manage execution bonds in a safe and reliable environment.
Such inauguration took place with the participation of the ministers of commerce, housing, communications, and the governor of the Saudi Central Bank to ensure the most integration possible across Saudi concerned agencies.
The platform provides a digital bond service where the beneficiary/user can create, issue, and have bonds approved by counterpart users, follow up on their status, view their details around the clock, and have such bonds linked to and monitored by the Ministry of Justice and courts of execution to facilitate enforcement thereof.
Nafith comes as a part of Vision 2030 and the MoJ’s efforts for engaging the private sector under the National Transformation Program as well as an increased shift towards digital services and platforms.