Saudi extends $2.67 bln credit to low income citizens
RIYADH |
RIYADH Oct 26 (Reuters) - Saudi Arabia's king has ordered that 10 billion riyals be ($2.67 billion) deposited in the Saudi Credit Bank to facilitate lending to low income citizens amid a global financial crisis, the official SPA news agency said.
The SCB was established to extend interest free loans to Saudi citizens with limited financial resources to help them overcome their financial difficulties.
(Reporting by Lin Noueihed, Editing by Daliah Merzaban) ($1=3.750 riyals)
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