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The Saudi Central Bank (SAMA) extended the deferred payment program for the micro, small and medium enterprises (MSMEs) that continue to be impacted by the COVID-19 precautionary measures for three additional months from Jan. 1 to March 31, 2022.
The extension is based on the assessment of the financing entities, the apex bank said in a statement today, Dec. 30.
The deferred payment program has benefited more than 107,000 contracts with a total value of deferred payments worth SAR 181 billion since its launch on March 14, 2020, to date.
In March 2020, SAMA launched a SAR 50 billion financing package to support the private sector, especially the small and medium enterprises (SMEs), and mitigate the potential economic impacts of the COVID-19 outbreak. The program has been extended several times since its launch.
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