The Saudi Arabian Monetary Authority (SAMA) announced exceptional initiatives, dedicating 50 billion riyals to lift the pressure off Small and Medium Enterprises (SMEs). The scheme will allocate 30 billion riyals to banks to allow SMEs to delay due payments for six months. It will also make 13.2 billion riyals available to SMEs through bank loans, and will reduce some cost on companies through a 6 billion riyal loan guarantee programme.
Saudi Arabia announced a 50bn riyal stimulus to limit the effect of #corona on SMEs. I spoke to Sama Governor Dr. Ahmed Al Khelaifi on this issue who assured me that the Central bank is ready to intervene again if needed. #coronavírus #ksa #saudi
Zero interest rate loans to banks to provide corporate and SME support.
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Under the scheme, up to SAR30 billion will be used by banks and finance institutions to defer payments owed by SMEs for six months with immediate effect.