The Saudi Arabian Monetary Authority: Allowances, rewards and financial benefits that have been returned to state employees should not be affected retroactively

6/21/2017 12:00 AM

 

          The Saudi Arabian Monetary Authority (SAMA) has assured that the allowances, benefits and financial rewards that have been returned to state employees will not be affected retroactively according to the noble royal order. Consequently, banks and financing companies cannot seize the returned amounts, whether by seizing them, deducting them, or so on. In a circular issued today to banks and financing companies, SAMA emphasized the necessity of adherence to the circular as of its date.
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