SAMA emphasizes the forbidding of deducting any amount from the Cost of Living Allowance

2/21/2018 12:00 AM

The Saudi Arabian Monetary Authority (SAMA) stressed in its circular no. 391000063393 dated 04/06/1439H on all bank operating in the Kingdom not to deduct any amount from the cost of living allowance beneficiaries’ accounts as issued by King Salman Bin Abdulaziz Al-Saud’s royal decree for whatever judicial verdicts. SAMA stressed as well on lifting all previous garnishment on the cost of living allowance and bonuses urgently.

 

SAMA added that the circular came next to coordinating with the ministry of Justice in this regard, so that the cost of living allowance and remuneration treated under article 21 of the implementing law, as they are part of the government compensation programs and government support for citizens.

SAMA’s move came further to its circular no. 391000050920 dated on 1439/05/04H, which emphasize on forbidding deducting amounts from the cost of living allowance for the payment to bank personal loans or other finance commitments as mentioned in the royal decree no. (86/A) dated on 1439/04/18H, that includes the payment of a monthly living allowance of SR 1,000 for citizens of civil and military employees for one year, and SR 550 paid by pension, social insurance, and social security beneficiaries for one year, in addition, five thousands riyal paid once as a reward for the military participants in the front lines in the south. 

SAMA invites all banks’ customers to exercise their rights guaranteed by the system to file a complaint at the event of violation at SAMACARES.SA department or by calling the toll free: 8001256666.


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