October 5, Manama (BNA): After mortgage procedures are finished, the Temporary Ownership Certificate—which was introduced by the Survey and Land Registration Bureau (SLRB)—will formally replace the original title deed. The effort was started in collaboration with Waqf, Islamic Affairs, and the Ministry of Justice.
SLRB, Justice Ministry introduce Temporary Ownership Certificate
The new certificate was the result of recent discussions with officials from commercial banks and real estate developers to resolve issues in mortgage transactions, according to SLRB President Bassim bin Yaqoub Al Hamer. He clarified that in order to speed up processes and boost productivity throughout the industry, the certificate will function as a legally recognized document up until the genuine title deed is granted.
In order to increase the overall efficacy of the property registration system and strengthen confidence in Bahrain’s real estate market, Al Hamer continued, the interim certificate has the same legal weight as proof of ownership. He pointed out that a thorough assessment was conducted before the decision was made in order to protect each party’s rights within an open and clear legal framework. The effort, he continued, is a significant step toward a fully digital property system built on openness, clarity of the law, and accessibility for both financial institutions and individuals.
The Justice Ministry was also commended by the president for its solid collaboration and assistance. According to him, the program supports national development initiatives in accordance with the Bahrain Economic Vision 2030 and helps to increase Bahrain’s real estate competitiveness.
The idea is fully supported by the ministry, according to Nawaf bin Mohammed Al Ma’awda, Minister of Justice, Islamic Affairs, and Waqf, who also highlighted how it will improve transparency and streamline property registration. He pointed out that the Temporary Ownership Certificate will make it possible to complete financial and real estate transactions more quickly and effectively, boosting investor trust in Bahrain’s real estate market.
