Banks can't deduct loan installments from Citizen’s Account allowances: SAMA

14/12/2017 Argaam

 

The Saudi Arabian Monetary Authority (SAMA), the Kingdom central bank, has ordered all Saudi banks not to deduct any installments from the Citizen’s Account allocations.

 

The Saudi cabinet approved on Tuesday the Citizen's Account program policies, which will be reviewed on a quarterly basis to ensure appropriate and adequate support for eligible Saudi households, Argaam reported.

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