The Finance Ministry said yesterday that it has written off loans worth SR 1.84 billion pending with 20,792 Saudi nationals. The move follows Custodian of the Two Holy Mosques King Abdullah’s directives to exempt all deceased citizens from paying their dues to state-owned funds. The Real Estate Development Fund has written off the largest amount (SR 1.24 billion) owed by 8,259 while the Agricultural Development Fund has written off SR 472.96 million loans that were lent to 7,076 persons. The Saudi Credit Bank has written off SR 120.25 million loans taken by 5,457 people. Finance Minister Ibrahim Al-Assaf has written off SR 16 billion from installment payments of citizens to REDF and the credit bank after the king exempted them from paying installments of two years.
Posted on: Mon, 08 Jul 2013 01:06:55 +0000
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