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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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News Network
July 28,2020

Dubai, Jul 28: A heart-broken father who lost his 19-year-old son in a tragic car accident during Christmas last year has sponsored the repatriation costs of 61 Indians stranded in the UAE.

 The special flydubai repatriation flight, chartered by the All Kerala Colleges Alumni Federation (Akcaf) volunteer group, of which he is a member of, departed from Dubai to Kochi on July 25 carrying 199 passengers.

 On this particular flight, I sponsored 55 air tickets," said TN Krishnakumar, a sales and marketing director. He had lost his son Rohit Krishnakumar in a car accident, which also claimed the life of the teen's friend, Sharat Kumar (21).

"All passengers who were registered with the Indian missions were also asked to register on the Akcaf volunteer group website. Each passenger was further vetted, after which we made home visits to ensure that all the applicants were genuinely in need of financial support and repatriation," he said.

Commenting on what inspired him to dedicate himself to community work, Krishankumar said: "When a situation like this comes up, you realise there is no meaning in money. I invested everything I made into my son, and that had crashed in front of my eyes. He was a third-year medical student at the University of Manchester in the UK and had returned home for a vacation when the accident took place. Since then, I have been involved in a lot of social activities. If I do not do this, there is no meaning to my existence."

Since the outbreak of the Covid-19 pandemic, Krishnakumar said the group has supported thousands of individuals in need of help. "We supported unemployed people with several hundred bags of grocery kits and other necessary items. We also supported Covid-19 patients by transferring them to the medical facility in Warsan, etc.," he said.

"I come from a very middle-class family. I got a scholarship to study in college, and I studied with the help of taxpayers' money. I have always wanted to give back to society. I have grown immensely in life and now is my time to give back.," he added.

Krishnakumar also sponsors the education of over 1,000 academically gifted school children in Kerala's government-aided schools. He is a life trustee at the College of Engineering Trivandrum Alumni Galaxy Charitable Trust and an active participant towards various educational causes.

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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
March 18,2020

Riyadh, Mar 18: Private-sector businesses in Saudi Arabia on Wednesday were ordered to introduce enforced remote working for all employees for 15 days in an attempt to prevent the spread of the coronavirus.

Businesses that require staff to be physically present to ensure they continue to operate — including those in vital or sensitive sectors such as electricity, water and communications — must reduce the number of workers in their offices to the bare minimum. This can be no more than 40 percent of the total number of staff.

In such cases precautionary measures set by the Ministry of Health must be followed. At offices, and staff accommodation, with more than 50 workers, an area at the entrance must be provided where temperatures can be taken and symptoms checked.

Employers must also set up a mechanism for workers to report any symptoms, such as high temperature, coughing or shortness of breath, or contact they have had with infected individuals or people who recently returned from other countries without following proper Ministry of Health quarantine procedures.

Inside offices, a safe amount of space between employees must be maintained at all times. In addition, all health clubs and nurseries provided by employers must close.

Pregnant women and new mothers, people suffering from respiratory diseases, those with immune-system problems or chronic conditions, cancer patients and employees above the age of 55 are to be given 14 days compulsory paid leave, which will not be deducted from their annual entitlement.

Businesses that are excluded from the new measures include pharmacies and supermarkets, and their suppliers. Private-sector organizations that provide services to government agencies must contact them before suspending workplace attendance. Any other business that considers it impossible to operate with only 40 percent of staff in the workplace must submit an exemption request to the authority that supervises it.

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