Marriage loans increased to SR60,000

March 19, 2014

Marriage_loansJeddah, Mar 19: Marriage loans will be increased to SR60,000 under a new scheme approved by the Saudi Credit and Savings Bank.

The new scheme also includes lowering the age requirement for applicants for family loans. In addition, these loans will be made available for employees who earn up to SR10,000 instead of the previous SR8,000 cap.

“The main amendments to the regulations include raising the limit of marriage loans from SR45,000 to SR60,000 and allowing salary earners of up to SR10,000 to benefit from the scheme,” said Ibrahim Al-Hanichl, general manager at the bank.

The said the company’s board of directors approved cancelling the age requirement for family loans and instead adopting a new criteria that takes into account the applicant’s income and the number of dependents he is obliged to support.

“According to the new criteria, each family member’s share averages to about SR2,000,” he said.

He said applicants are eligible for a marriage loan within a year of getting married.

In addition, applicants can now seek a second loan within a year of acquiring an initial loan instead of the previous three year-period.

The bank has offered more than 600,000 loans during the past three years worth over SR27 billion. That translates to 18,000 loans and SR800 million in loans per month.

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Agencies
May 17,2020

Jerusalem, May 17: The Chinese ambassador to Israel was found dead in his home north of Tel Aviv on Sunday, Israel's Foreign Ministry said.

No cause of death was given and Israeli police said it was investigating.

Du Wei, 58, was appointed envoy in February in the midst of the coronavirus pandemic. He previously served as China's envoy to Ukraine.

He is survived by a wife and son, both of whom were not in Israel.

Israel enjoys good relations with China.

The ambassador's death comes just two days after he condemned comments by visiting U.S. Secretary of State Mike Pompeo, who denounced Chinese investments in Israel and accused China of hiding information about the coronavirus outbreak.

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News Network
April 24,2020

Riyadh, Apr 24: As many as eleven Indian nationals have died due to COVID-19 in Saudi Arabia.

"As per information available with the Embassy as of April 22, eleven Indian nationals (four in Madinah, three in Makkah, two in Jeddah, one in Riyadh and one in Dammam) have passed away due to COVID-19 in Saudi Arabia," the Embassy of India in Saudi Arabia said in a press release on Wednesday.

It urged the Indian community to remain calm and avoid spreading of rumours amid the COVID-19 crisis.

"The Embassy also reiterates the need for the community to remain calm and avoid spreading of rumours that may create panic. It is important that social media is not used to disseminate false messages and spread hatred along communal lines that can vitiate the atmosphere," the Embassy said.

"As stated by Prime Minister Narendra Modi, COVID-19 does not see race, religion, colour, caste, creed, language or borders before striking, and our response and conduct should attach primacy to unity and brotherhood," it said.

Moreover, several measures on the supply of food, medicines and other emergency assistance to Indians in need are being implemented across the Kingdom.

Earlier, Indian Ambassador to Saudi Arabia, Ausaf Sayeed on April 22 had interacted with Indian community volunteers from the smaller towns all across the Kingdom to discuss the impact of the COVID-19 situation, and evaluate the implementation of various measures to ensure the welfare of Indian nationals.

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News Network
April 27,2020

Riyadh, Apr 27: The government of Saudi Arabia has signed a SR995 million (approx. Dh972m) contract with China to provide Covid-19 tests for nine million people in the Kingdom.

The Saudi Press Agency, SPA, reported that the decision came "as a result of a phone call made today (Sunday) between the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Chinese President Xi Jinping."

The contract includes providing necessary equipment and supplies, making available of 500 Chinese specialists and technicians who are specialised in performing tests, establishing six large regional laboratories throughout the Kingdom; including a mobile laboratory with a capacity of performing 10,000 tests per day. Saudi cadres will also be trained to conduct daily tests and comprehensive field tests, under the new agreement

The contract was co-signed by the National Unified Procurement Company and Chinese company Huo-yan Laboratories by Dr. Abdullah Al Rabeeah, Advisor at the Royal Court, on behalf of the Government of Saudi Arabia, and Chinese Ambassador to the Kingdom Chen Weiqing, as a representative of the Chinese Government.

The contract is one of the largest contracts that will provide diagnostic tests for the novel Coronavirus.

Tests were also purchased from several other companies from the United States, Switzerland and South Korea, bringing the number of available tests to 14.5 million, covering around 40 percent of Saudi Arabia's population, SPA added.

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