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2016-11-20

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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Saudi Arabia

Saudi Central Bank

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SAMA Policy Circular

Saudi Arabia - Riyadh

Banking Policy Administration

Reference No.:

381000019430

Date:

1438/02/20

Attachments:

Circular

Respected Excellency,
Greetings,

Subject: Debts and Loans of Martyrs of Duty and Those with Total Disability.

Reference is made to the debts and loans of martyrs of duty and injured participants in Operations Decisive Storm and Restoring Hope. In light of national duty and the social responsibility of banks, particularly concerning martyrs of duty and those with total disability, and acknowledging and taking pride in the role and sacrifices made by them in safeguarding the nation's security and stability, and due to the importance of affording this category of bank clients and their families ample care and attention.

The Institution requests all banks and financial institutions to pay due attention to settling the debts and loans of those with total disability and relatives of martyrs of duty participating in Operations Decisive Storm and Restoring Hope, and to expedite the processing of applications received regarding these debts and loans from the date of martyrdom or injury, along with the mechanisms and procedures for handling them whether they are covered by insurance or not. Feedback regarding actions taken is requested within one month from the date of this circular.

Yours sincerely,
and my highest regards,

Governor
Ahmed bin Abdulrahman Al-Jadaan

Distribution Scope:

  • Banks and financial institutions operating in the Kingdom.

P.O. Box 2992, Riyadh 11169, Telegram: Markaz Ziy, Telex 404400, Phone 463200, Fax 4672414

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