المملكة: 5.5 million bonds in 2024 .. “Nafez” provides innovative solutions to implement the bonds

The “Nafez” platform in the Ministry of Justice has caused a qualitative shift in the field of implementing bonds for an order; It provided innovative solutions that contributed to accelerating procedures, reducing costs and increasing transparency.
The Nafith.sa platform allows the ability to create and register the bond to order its approved pillars according to the commercial papers system electronically.
The platform dealt with the challenges of implementation on bonds for an order, through electronic documentation of them; Where it allowed documenting bonds to an electronic matter across the platform; Which reduces the cases of forgery or disputes over the health of the bonds, in addition to linking with multiple parties such as banks and government agencies, to facilitate the verification of the health of the bonds and accelerate the implementation process.

The platform underestimated the period of implementation of the implementation trip, by providing the lifting of the bonds electronically by linking with the virtual court of implementation; This reduced the burden on the courts, and contributed to reducing the implementation period compared to the traditional way.

It also contributed to reducing the need for human intervention from the implementation courts, and the lack of need to come to the court or provide paper documents; This reduced the financial burdens on the conflicting parties, as it is as a result of the reliable electronic system; The parties have more confidence in the health of operations and implementation procedures.
The number of bonds registered in the platform during the year 2024 reached more than 5.5 million bonds, and the number of registered companies is more than 4,100, while the number of registered individuals reached about 760 thousand individuals.