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  • 01-06-20

    Saudi Arabia - to deposit 13.3b USD into banking system

    (MENAFN)

    A 13.3-billion-USD program was disclosed by SAMA previously, in order to support small private businesses in Saudi Arabia.

    This decision was made to curb the outcome from the COVID-19 pandemic and the decrease in oil prices, the Saudi Arabian Monetary Authority's (SAMA) stated.

    The quantity will enhance services to the private sector; support banks amend restructure loans without extra fees and maintain private sector employment.

    According to Arabiya TV, Saudi Arabia declared to deposit 50 billion riyals (13.3 billion U.S. dollars) into the banking system.

    MENAFN0106202000450000ID1100255261

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