21/05/2014
Credit Bank Manager in the region Branch during a Tuesday meeting in the Eastern Chamber
Expectations of higher loan applications to the funding request of about 30 000 and a half billion riyals
Saudi credit and saving Bank in the Eastern Branch Manager Jumaan Al-Zahrani predicted to increase the size of the Bank's financing in view of the substantial increase in the Fund's capital of 5 million when the Foundation to 46 billion last year. AlZahrani said during a meeting Tuesday in the East Chamber branch in Qatif to Dammam branch receives lounge daily between 300-600 loan from lending to the social and economic goals. AlZahrani said that total loans disbursed by the Bank since the beginning of the funding until the first quarter of 2014 exceeded 57.5 billion, disbursed more than 1.8 million loan, pointing out that the World Bank specialist is not specialized in the disbursement of loans known as social, but has a number of programs and functions, there are loans for small business productivity, as well as a program of savings that did, and by the increase in the Bank's capital was increased from 36 billion to 46 billion last year.
Al Zahrani said the growth in demand for bank financing, the average paycheck each month 11,000 bank loan monthly half-billion a few years ago, this rate is expected to rise from 25-30 a request about a billion and a half billion riyals, an increase of more than 100 percent. Zahrani said that the loans the Bank was requiring burns 3,000 minimum salaries beneficiary has been upgrading to 10 000, raise the maximum loan of 45 000 to 60 000, due to increased demand for loans, has been reduced between the loan and the loan from three years to one year, adding that the number of loans issued in the first quarter of 2014 more than 51,000 loan exceeded 1.6 Billion spread over a wedding loan, and loans repair.
And productive loans Al Zahrani said is designed to be the arm passes in support of youth and girls wishing to have self-employment, owning projects, adding that the program. It features coverage of all business activities; the program offers loans under the slogan of ' fare and finished projects, and start-ups, and excellence and invention '. Zahrani said that taxi and transportation program provides a loan ceiling of 80 000, the trend is to increase this amount, up to micro 50,000 SAR unlikely venture up upper limit to 300 000. And on the program, Al Zahrani said the program aims creative non-traditional projects, in developing regions, the least developed, to benefit from the comparative advantage of the region where the project is planned, as well as the commitment to reduce the higher proportion of Saudi, indicating that the Bank put an end to these loans worth up to $ 4 million, is aimed at assisting inventors and converting innovations into successful business ventures.
Al Zahrani said that the Bank made the paths during the first quarter of this year 413 venture loans worth more than 92 million, and loans for taxi and transportation worth 13 million approximately, 38 loans for projects to more than 60 million, while the value of loans made by the Bank since the beginning of the funding for this program ' trails ' until the first quarter of this year more than 3.6 billion to more than 23,000 loan.
