Banks can’t cut loan installment from employee bonus — SAMA

February 6, 2015

Jeddah, Feb 6: The Saudi Arabian Monetary Agency (SAMA) has ordered all Saudi banks not to touch the two-month salary bonus granted by Custodian of the Two Holy Mosques King Salman to all Saudi government and military employees, retirees and students.

Saudi Arabian

According to Talat Hafiz, secretary-general of Media and Banking Awareness Committee of Saudi Banks, this procedure will protect Saudis who are eligible to take advantage of the royal decree, but have been required to pay bank loans.

“SAMA’s instructions are clear to all Saudi banks. There are several Saudi state employees who are required to pay bank loans. At the same time, the two-month bonus is considered a gift from King Salman to Saudis and banks do not have the right to deduct anything from these benefits,” Hafiz told Arab News.

Most Saudis prefer to work in a limited number of major Saudi companies, such as Saudi Aramco, SABIC and other large national employers that have a good reputation with local banks, making it easier for employees at these companies to secure loans.

Meanwhile, Finance Minister Ibrahim Al-Assaf on Wednesday informed all government departments that his ministry has started providing them with additional funds to implement the royal decree.

Al-Assaf also instructed the ministries and departments to pay the two-month bonus to all the retirees including those who have been allowed to take long leave because of pregnancy or disease.

“The bonus shall be paid on the basis of the latest basic salary while the two-month stipend shall be given to only students of government universities and colleges,” he said.

Referring to government employees who pursue higher studies abroad on scholarship, Al-Assaf said they would be treated like scholarship students in foreign countries and paid only two-month remuneration. He also instructed ministries to avoid double payment. “The bonus payment should not be linked with the timing of the payment of usual salary,” the minister said.

The total bonus for government employees, retirees and students would amount to SR110 billion.

Fadiya Al-Fawaz, an expert in social responsibility programs, said major Saudi companies would cut down their allocations for their CSR programs in 2015 as a result of the payment of bonus. She said fall in oil prices would also affect CSR programs for social welfare this year.

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News Network
May 5,2020

Abu Dhabi, May 5: The overall real GDP (gross domestic product) of the United Arab Emirates is estimated to have grown by 1.7 percent in 2019, the country’s central bank said in a statement on Monday carried by WAM.

"The UAE hydrocarbon sector is estimated to have exhibited a growth of 3.4 percent in 2019. However, non-oil activities advanced at a softer pace growing by 1.0 percent. As a result, overall real GDP is estimated by FCSA (Federal Competitiveness and Statistics Authority) to have grown by 1.7 percent in 2019," said the financial regulator in its Annual Report 2019.

"The spread of COVID-19 is expected to impact trade and supply chain movements, coupled with travel restrictions which paves way for high volatility in capital markets and commodity prices. While the outbreak is expected to negatively affect the global and domestic economies, it is still early to gauge the scale of the economic fallout," the report added.

The report noted that the higher hydrocarbon output, as well as growth in non-hydrocarbon economic activity, supported the pace of the country's overall economic growth in 2019.

"Meanwhile, the fading effect of VAT, the appreciating Dirham, lower energy prices and decline in rents pushed inflation in negative territory. However, the employment rate registered a steady rebound. Looking ahead, the economic outlook for 2020 remains uncertain owing to the COVID-19 outbreak," the report elaborated.

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News Network
July 13,2020

Dubai, July 13: An explosion caused by a gas leak damaged a restaurant, and nearby shops at a residential building in Dubai on Monday morning. 

According to Brigadier Abdul Haleem Al Hashemi, Deputy Director of Al Qusais Police Station, the incident took place at 4am when the restaurant was closed.

No injuries were reported, but two nearby shops, a pharmacy, a salon and three cars were severely damaged.

"Dubai Police patrols were immediately dispatched to the scene and worked with Dubai Civil Defense to evacuate residents of the two-storey building as a precautionary measure," Brig Al Hashimi explained.

Preliminary investigations showed that the blast was caused by a gas leak, the officer said. The Crime Scene Department of the General Department of Forensics and Criminology in Dubai is studying the evidence collected from the site and will be preparing the final report on the accident.

Brig Al Hashimi urged restaurant owners to ensure that all safety and security systems at their outlets are in good condition. Regular maintenance checks should also be conducted on all pipes and gas regulators, especially during the summer season.

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News Network
May 1,2020

Jeddah, May 1: The government of India and its diplomatic missions in the Gulf Cooperation Council (GCC) States have begun elaborate preparations for the massive evacuation of their nationals stranded or needing to return once the lockdown travel restrictions are lifted.

The Indian missions in Saudi Arabia, the United Arab Emirates (UAE), Kuwait, Bahrain, Oman and Qatar have started registration for the return of their nationals. The move coincides with the directive of New Delhi to the Indian Air Force and Navy to get their big engines ready to bring back citizens stuck in the GCC states.

India’s External Affairs Minister S. Jaishankar has stated that the Indian missions in the GCC states have been liaising with local authorities for repatriation of Indians. More than eight millions Indians work and live in the Gulf countries.

The Indian Embassy in Saudi Arabia said that it has issued directives to their nationals who seek repatriation to India to fill an application form so as to facilitate their travel when the authorities lift the travel restrictions. Similar advisories have also been issued by the embassies in other Gulf States.

The Riyadh Embassy said in a press statement that the purpose is only to collect data and no decision has been taken yet regarding resumption of flights to India.

The Embassy will make an announcement with regard to repatriation of Indian nationals when the government of India takes a decision in this regard, the statement said, adding that separate forms have to be filled for each individual, including Indian worker or his or her family members.

The Embassy is in the process of working out the modalities of evacuation of stranded Indians in line with the directions of the government of India, the statement pointed out.

The Embassy and the Consulate General in Jeddah are closely monitoring the situation and are taking all the required measures to ensure the welfare of Indian citizens.

The missions have taken all the necessary measures for the supply of food, medicines and other emergency assistance to Indians in need and that is in coordination and cooperation with volunteers of major community organizations across the Kingdom.

These initiatives have been accelerated following the interactions of Ambassador Dr. Ausaf Sayeed with community volunteers and social workers from all parts of the Kingdom. The Embassy has also been in touch with all major companies in the Kingdom that employed Indian workers to carry out regular monitoring of the workers’ health, especially in labor camps, and take all other precautionary and preventive measures to ensure their health and safety.

According to the plan drawn up by the government of India, the first commercial flights from the Gulf could start after May 3, if the nationwide lockdown restrictions are not extended.

INS Jalashwa, an amphibious assault ship, and two Magar class tank-landing ships are being readied for the evacuation purposes, India’s IANS reported.

These ships, which have a total capacity of 2,000 people, have started making arrangements as per the standard protocols laid out to deal with suspected coronavirus cases like social distancing and sanitization.

The Indian Air Force has been evacuating citizens from coronavirus hit countries such as China, Japan, Iran, Italy and Kuwait since January. The force has stated that it has kept C-17 Globemaster and C-130s on standby which can be used whenever they are required.

Apart from them, Air India flights are also being kept on standby to pick up stranded Indians from the GCC countries.

15 Indian fatalities in western region

Speaking to Saudi Gazette, Indian Consul General Mohammed Noor Rahman Sheikh said that as of Thursday a total of 15 Indian coronavirus fatalities were reported in the western region.

These included seven cases in Makkah, six in Madinah and two in Jeddah. Around 140 Indians have tested positive in the region where most of the coronavirus cases in the Kingdom have been reported.

He said that permission was not accorded from the Ministry of Haj and Umrah to use the Indian Haj mission facility in Makkah as the center to assist the community members with regard to the coronavirus related cases.

“Our medical in charge is in Makkah and with the support of some other staffers, he has been actively involved in lending a helping hand to those Indian nationals who are in distress,” he said.

“We are in regular contact with the Ministry of Health officials in ensuring quick medical assistance to those who are tested positive.” He said preparations are under way for repatriation of Indians once permission is ready to take them home. “We are maintaining a database of all those who contacted the consulate with a request for their repatriation,” he added.

Meanwhile, the bodies of two Indians from the southern state of Kerala who succumbed to the pandemic were buried in Makkah. Naletil Muhammad from Ancharakkandi of Kannoor district, a restaurant worker in Makkah, gave samples at King Faisal Hospital a few days ago after developing symptoms of the disease.

When the hospital authorities advised him to remain in medical isolation, he reportedly preferred to remain in isolation at his residence where he succumbed to the pandemic after a few days.

Muhammad’s two sons, who are working in Riyadh, alerted his colleagues when they failed to contact him over phone. They found him dead at his residence on Monday. Eventually, Ministry of Health officials sent all his six colleagues to medical isolation.

Kottuwala Ippu Musliyar from Thennala, Vengara in Malappuram district, was a well-known social worker in Makkah. He died of coronavirus at Hira Hospital on Wednesday after undergoing treatment for a couple of days.

Mujeeb Pukkottoor, a prominent Indian social worker and general secretary of Makkah chapter of Kerala Muslim Cultural Center, was authorized by their spouses to carry out their burial procedures.

Accordingly Muhammad was buried on Wednesday and Ippu Musliyar on Thursday at the designated area for the coronavirus deceased persons at Sharaie Cemetery in Makkah.

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