Regulatory Alerts2016-11-20
Debts and Loans of Martyrs of Duty and Those with Total Disability
The Saudi Central Bank directs all domestic banks and financial institutions to prioritize the settlement and expedited processing of debts and loans for martyrs of duty, injured personnel from Operations Decisive Storm and Restoring Hope, and their families. Banks must evaluate whether these obligations are covered by insurance or not, apply the appropriate handling mechanisms, and report their actions within one month of this circular's issuance. This directive reinforces the financial sector's social responsibility by ensuring comprehensive care for national security contributors and their dependents.
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