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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January 15,2020

Asia, Jan 15: Iranian Foreign Minister Javad Zarif on Wednesday said that killing of Iranian general Qassem Soleimani showed the ignorance and arrogance of the United States and asserted that Washington looks at things from their perspective and not keeping the interests of the region in mind."The US looks at things from their perspective, not from the perspective of this region. The killing of Qassem Soleimani shows ignorance and arrogance. 430 Indian cities saw protests against killing of Soleimani," Zarif said at an event.

Hitting out at US President Donald Trump and Secretary of State Michael Pompeo, Zarif said that they were the only ones, along with the Islamic State (ISIS) who celebrated the death of Soleimani.

"Who is celebrating Soleimani's killing? President Trump, Pompeo and Daesh (Arabic name of ISIS). You wonder about strange bedfellows?" he said.

Tensions between the US and Iran soared dramatically earlier this month after Washington launched airstrikes at Baghdad International Airport, which killed Soleimani. Tehran retaliated by firing a volley of ballistic missiles at two military bases of US-led coalition forces in Iraq, leading to a strife in the region.

However, Zarif regretted the shooting down of the Ukrainian airline and said it happened because of "tension".

"Nine million people were out in the streets of Iran commemorating Soleimani. You cannot bring out so many people to protest. The shooting down of a plane was a mistake. 180 families are mourning the loss of their dear ones. It happened because of tension," he said.

Asked whether there a chance of a diplomatic solution to the ongoing crisis, Zarif ruled out negotiating with the US.

"Iran is interested in diplomacy. We are not interested in negotiating with the US. US did not keep its commitments under nuclear deal. We had a US deal and the US broke it. If we have a Trump deal, how long will it last?" he said.

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Agencies
May 1,2020

Saudi Arabia has initiated refund of work visa fee to foreigners unable to travel to the Kingdom due to the suspension of international flights in the aftermath of Covid-19 pandemic.

Several work visas were cancelled, following which the Ministry of Human Resources and Social Development, in cooperation and coordination with the Ministry of Foreign Affairs, announced the refund. The cancellation and refunding of the stamped visas will be considered effective from the date of issuance of the royal decree on March 18, reported Saudi Gazette.

As a precautionary measure to curb the spread of coronavirus, the Kingdom suspended all international flight. The ministry of health in Saudi Arabia on Wednesday announced 1,325 new Covid-19 coronavirus cases and 169 recoveries. With this, the total number of cases in the Kingdom now stands at 21,402, while recoveries stand at 2,953, as on Wednesday reported KT.

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News Network
May 6,2020

A massive fire engulfed a residential tower in UAE's Sharjah last night. The building has been identified as one Abbco Tower in Al Nahda.

According to the latest inputs, Sharjah Civil Defence teams rushed to the spot and evacuated all residents. 

Firefighters managed to douse the blaze after several hours. The building in question is reportedly a 48-storey structure. Officials are yet to reveal the cause of the fire.

All residents of the building were evacuated while seven incurred minor injuries during the evacuation and were treated at local hospitals, reported the United Arab Emirates' local media.

More details are awaited as this is a developing story.

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