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Saudi- Real estate office shut in Eastern Province
(MENAFN- Arab News) Authorities have sealed a real estate office in the Eastern Province for collecting funds for various projects from customers without permission from the authorities.
A Ministry of Commerce and Industry (MCI) inspection team found the Al-Nimer Real Estate Office was soliciting funds from customers without havng proper licenses for the transactions.
The MCI reminded the people of a previous government order which clearly stipulates that any real estate dealing is not permissible without proper official permission.
The official said the MCI inspection teams will continue regular visits to monitor violations under the new regulations. Violators will be punished according to the degree of their offense the official said adding that the ministry will not compromise with the safety of the consumers at the expense of counterfeit agencies.
On a related note the Kingdom concluded its participation and activities of the Gulf Consumer Week on Monday. The week aimed to spread awareness among all GCC consumers in the region. The MCI conducted a series of events in the Kingdom in cooperation with the government agencies Chambers of Commerce and Industry and public sector companies.
Several awareness exhibitions in large malls across various regions of the Kingdom were organized all under the theme of: ''Know Your Right.'' During the campaign many business models educational publications and interactive experiences were displayed.
In further efforts to crack down on commercial violations the MCI has insisted that commercial sellers offer guarantee certificates for the goods sold in the local market and has prevented them from using the words ''No Refund or Replacement for Goods'' on the tags of the goods purchased by the consumers.
The ministry also imposed heavy penalties on businessmen who issued checks without funds in their respective banks.
According to an official the ministry is dedicated to reducing commercial violations and to creating a business climate where the consumer and the seller receive a fair deal from their transactions.
The ministry called on all consumers to report their complaints and observations through social networking channels and through the commercial notification for smart phones.
A Ministry of Commerce and Industry (MCI) inspection team found the Al-Nimer Real Estate Office was soliciting funds from customers without havng proper licenses for the transactions.
The MCI reminded the people of a previous government order which clearly stipulates that any real estate dealing is not permissible without proper official permission.
The official said the MCI inspection teams will continue regular visits to monitor violations under the new regulations. Violators will be punished according to the degree of their offense the official said adding that the ministry will not compromise with the safety of the consumers at the expense of counterfeit agencies.
On a related note the Kingdom concluded its participation and activities of the Gulf Consumer Week on Monday. The week aimed to spread awareness among all GCC consumers in the region. The MCI conducted a series of events in the Kingdom in cooperation with the government agencies Chambers of Commerce and Industry and public sector companies.
Several awareness exhibitions in large malls across various regions of the Kingdom were organized all under the theme of: ''Know Your Right.'' During the campaign many business models educational publications and interactive experiences were displayed.
In further efforts to crack down on commercial violations the MCI has insisted that commercial sellers offer guarantee certificates for the goods sold in the local market and has prevented them from using the words ''No Refund or Replacement for Goods'' on the tags of the goods purchased by the consumers.
The ministry also imposed heavy penalties on businessmen who issued checks without funds in their respective banks.
According to an official the ministry is dedicated to reducing commercial violations and to creating a business climate where the consumer and the seller receive a fair deal from their transactions.
The ministry called on all consumers to report their complaints and observations through social networking channels and through the commercial notification for smart phones.
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