(MENAFN- Saudi Press Agency) Riyadh, July 5, 2020, SPA -- The Enforcement Courts will start entrusting judicial liquidation cases exclusively to the Entrustment and Liquidation Center (infath) following the signing of an agreement between Ministry of Justice and infath. The agreement identifies the scope of activities to be entrusted and provides the necessary governance and accountability measures for timely fulfillment of rights.
The agreement will enable infath to commission qualified and licensed-companies from the private sector to competitively participate in the Liquidation Activities under the Center's supervision. The registration is currently available at (infath.sa) to local and international licensed companies in chartered accounting, law and legal services, evaluation, engineering advisory, judicial custody, property management, treasury, marketing and sales.
Infath evaluates and assigns each case to suitable service providers based on the experience and the nature of the asset.
During the last few months, infath was able to develop an integrated business platform and attract a diversified and qualified pool of relevant service providers. It has also delivered its first liquidation during Ramadan, which was entrusted by the private sector.
Entrustment and Liquidation Center 'infath' is one of the National Transformation Program 2020 initiatives that seeks to achieve excellence in the government performance and raise the overall judicial ecosystem efficiency and its services. It is an independent governmental center, seeking to build cooperation between the judicial and governmental entities in areas of liquidations, sales and other assets and entrusting them to the private sector in full transparency and competitiveness.
--SPA
15:39 LOCAL TIME 12:39 GMT
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