The Saudi Central Bank (SAMA) announced extending the deferred payment program to support the private sector until Q1 2021-end.
The move comes as part of SAMA’s efforts to enable the financial sector to play its key role in supporting the private sector, particularly the micro, small and medium-sized enterprises, the central bank said in a statement.
The decision also enables SAMA to maintain financial sector’s stability and support economic growth, in line with the Kingdom’s efforts to mitigate the COVID-19 pandemic fallout on various economic sectors.
The number of beneficiaries from the program, since its launch on March 14, 2020, exceeded 87,000 with SAR 77.3 billion deferred payments, the statement added.
On Sept. 1, 2020, SAMA decided to extend the payment deferral program for 3 more months until December 14, Argaam earlier reported.
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