Saudi retail loans rose after decree allowing women to drive: official

Retail loans issued by Saudi banks have increased after the royal decree last year allowing women to drive, Saudi Press Agency (SPA) reported, citing Talaat Hafez, Saudi Banks’ spokesman.

Saudi lenders launched several new financing products following the decree last September, including personal and auto loans, he said. 

Car sales rose over 10 percent since the move to allow women to drive; however, accurate figures are hard to determine for the time being, as only a limited number of driving licenses have been issued so far, Hafez noted.

Going forward, women’s car ownership is set to rise, as the number of licenses issued to women increases, he added.