14 March 2020 – Provided relief to small to medium enterprises for finance costs

Intervention Categories: Finance policy and financial aid; Stimulus packages and financial support
Level of Jurisdiction: National

Overview: The Saudi Arabian Monetary Authority will deposit SAR 6 billion for banks and insurance companies in order to relieve small to medium enterprises from the finance costs of KAFALA Program.

The Kafalah Program is a program launched by the Saudi Industrial Development Fund (SIDF) and Saudi banks that aims to promote financing to small and medium enterprises within the Kingdom of Saudi Arabia.
Full details here: http://www.sama.gov.sa/en-US/News/Pages/news-514.aspx