23 Hrs
Source:
البلاد
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Al-Shura urges review of personal finance rules
The ordinary first session of the Shura Council for the third year of the ninth term discussed measures to improve financing for individuals and small and medium-sized enterprises. The members called for a reconsideration of certain financing product requirements, such as the need for a guarantor and the option of direct salary deductions, in order to make it easier for beneficiaries to access funding. They also recommended developing models for participatory finance, establishing indicators to measure the impact of financial programs, and offering innovative, easy-to-repay products. Additionally, they proposed launching programs to ensure the sustainability of enterprises and address the limited ability to access commercial financing. The council also discussed the importance of evaluating the projects of the Tourism Development Fund in a balanced manner, considering both returns and impact, and expanding its coverage to include all regions of the Kingdom. A memorandum of understanding with Kenya was approved to enhance investment and scientific cooperation, along with requests for further study and evaluation regarding policies and financial programs.
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