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Social Development Bank General Director Ibrahim Al-Rashed unveiled a plan to reschedule the defaulting debtors of citizens borrowing from the bank.
He indicated that a bank committee was examining default cases focusing on special circumstances and making recommendations on a case-by-case basis, noting that according to the "economic" newspaper, the bank had succeeded in restoring the situation. regularity of 70,000 nonperforming social loans in the last six months.
He pointed out that at the end of last year 2018, the bank had been able to conclude 189,000 loans after the repayment of payments, noting that the product "Zod" savings launched by the bank would contribute to increase the share of household savings from 6% to 10% of their total income, in addition to encouraging Saving and raising the level of financial awareness in the community.
Al-Rashed added that last year, the bank had financed more than 25,000 projects and independent activities for one billion riyals, and had so far financed more than 47,000 productive families and micro-enterprises. of a total value of nearly 600 million riyals.
He said that since its creation, the bank has financed more than 2.5 million people for all of its products, more than 106 billion riyals. For all programs.
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