Reuters logo
Saudi orders rescheduling of consumer loans hit by austerity
October 2, 2016 / 3:46 PM / a year ago

Saudi orders rescheduling of consumer loans hit by austerity

RIYADH, Oct 2 (Reuters) - Saudi Arabia’s central bank said on Sunday it had given commercial banks instructions to reschedule consumer loans of customers hit by recently announced austerity measures.

The government said last week that it would cut ministers’ salaries by 20 percent and scale back financial allowances for public sector workers.

The steps announced on Sept. 26 are some of the most drastic yet by the energy-rich kingdom to save money at a time of low oil prices. (Reporting by Marwa Rashad; Writing by Maha El Dhana; Editing by Andrew Torchia)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below