14 Days
Source:
الاقتصادية
Saudi Arabia retirees gain new benefits
The General Organization for Social Insurance in Saudi Arabia has signed an agreement with the Saudi Finance Company to enhance services for retirees by offering personal financing solutions compliant with Islamic law. These solutions include the ability to purchase existing debts, consolidate obligations, with options for early repayment and exemption from installments in case of death. The agreement stipulates that the retiree’s age must be less than 65 at the time of the final installment due date. Installments are paid through direct deduction from the pension, not exceeding 25% of it, aiming to improve retirees' quality of life while maintaining their financial stability. This initiative is part of Saudi Arabia's efforts to expand its services for retirees, especially through the "Taqdeer" program, which honors retirees and offers various deals in collaboration with both the public and private sectors.
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