CORONAVIRUS

Central Bank orders banks to lend businesses money to avoid any job cuts

0
SAMA orders banks to lend businesses money to avoid any job cuts

Central Bank orders banks to lend businesses money to avoid any job cuts. The banks will now need to step up and help businesses by lending them loans. The loans will help the businesses to cut any jobs due to the current difficult times. More Details below.

Central Bank orders banks to lend businesses money to avoid any job cuts

Countries around the world are having issues in these times to keep their businesses operational and avoid job cuts. Saudi Arabia is also facing similar issues. But the Government is taking all the steps to avoid any major impacts.

The Saudi Arabian Monetary Authority wants banks to immediately put in place a lending program for at least six months to “assist in maintaining employment levels,” according to a document sent by the regulators to lenders and seen by Bloomberg. (Source: Al Arabiya, 2020)

Riyadh Xpress

Finally, follow Riyadh Xpress’s:

In addition, check out the latest articles by Riyadh Xpress.

  • Firstly, King Salman urged the world to respond to the human crises causes by Covid-19: Click Here.
  • Secondly, Social Distancing Measures implemented in supermarkets: Click Here.
  • Thirdly, the latest penalties on Iqama: Click Here.
  • Fourthly, Disabled parking violation/fine in Saudi Arabia: Click Here.
  • Lastly, hackers attack again to get your personal data: Click Here.

Check out the most viewed articles

admin

Saudi Abstract Artist Zahra Al Nahrawi stressed to be proactive during Quarantine

Previous article

King Salman Order Free treatment of COVID19 patients in Saudi Arabia

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in CORONAVIRUS