SAMA directs banks to postpone the payment of installments for three months for all financing products without any additional cost or fees for Saudi workers covered by the subsidy Law, in according to the unemployment insurance system (SAN

4/23/2020 12:00 AM

                Based on the noble royal order to pay a monthly compensation of 60% of the wage recorded in the Social Insurance for a period of three months, up to a maximum of (9) thousand riyals per month for Saudis working in private sector facilities affected by the current repercussions.

 

                SAMA directed all banks to postpone the payment of installments of three months for all financing products without any additional cost or fees for the Saudi workers covered by the subsidy in accordance with the Unemployment Insurance System (SANED), starting from (April) of the year 2020 AD. This is to be done without the need to submit any request from the customer, with the importance of notifying him/her of that, and taking into account the acceptance and processing of customer requests who do not wish to postpone installments.

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