Expansion of Medium-Term Advances Program to Include Agriculture Sector

Number: 3/14736 Date: 16 Safar 1436 Hijri Corresponding to 9 December 2014 Circulation to all Licensed Banks In continuation of the Central Bank’s mission to support the main economic sectors for the purpose of contributing to promoting growth and development in the kingdom, it has been thereby decided to expand the scope of the program of extending medium- term advances to licensed bank to include the sector of agriculture in continuation of the support provided to the sectors of “industry, tourism, and renewable energy” with encouraging interest rates, provided that the instructions on extended advances no (54) of 2011 apply. The Central Bank is looking forward for banks to provide necessary funds to these sectors with proper interest rates that are compatible with the purpose of this program. Respectfully Governor Dr. Ziad Fariz