10 April 2014
RIYADH - Deputy Crown Prince and Second Deputy Premier Prince Muqrin Bin Abdulaziz has strongly criticized Saudi commercial banks and said they are giving very little and taking much from the government and the citizens.
"I call them a saw - they chew when they go in and chew when they go out," he said while launching nine scientific publications issued by King Khaled Charity Organization in Riyadh on Tuesday evening.
"Name me a bank that has made any big donation or extended any feasible support to any project. I am neither a banker nor an economist but I know very well that the banks have not done much for the citizens," Prince Muqrin said.
He was happy that one of the publications had used the term "adequacy line" instead of "poverty line" when defining poor people.
"These publications are of great significance to citizens," he said. Sami Al-Damigh, director of the department of studies and research at the organization, said the adequacy line for a Saudi family of five is at least SR8,926 monthly.
He said the adequacy line means the amount of income that will enable a Saudi family to live decently.
He called for reviewing the mechanism to collect Zakat, establishing a special strategy for social development, reviewing the terms and conditions for the payment of the social security assistance and linking it to compulsory education and training.
Emir of Asir Prince Faisal Bin Khalid, who is chairman of the organization's board of trustees, said the organization strongly believes that studies and research can play a pivotal role in the development and progress of any country.
He said the organization has issued many publications focusing on knowledge and culture about charity and social development in addition to the life story of King Khalid.
RIYADH - Deputy Crown Prince and Second Deputy Premier Prince Muqrin Bin Abdulaziz has strongly criticized Saudi commercial banks and said they are giving very little and taking much from the government and the citizens.
"I call them a saw - they chew when they go in and chew when they go out," he said while launching nine scientific publications issued by King Khaled Charity Organization in Riyadh on Tuesday evening.
"Name me a bank that has made any big donation or extended any feasible support to any project. I am neither a banker nor an economist but I know very well that the banks have not done much for the citizens," Prince Muqrin said.
He was happy that one of the publications had used the term "adequacy line" instead of "poverty line" when defining poor people.
"These publications are of great significance to citizens," he said. Sami Al-Damigh, director of the department of studies and research at the organization, said the adequacy line for a Saudi family of five is at least SR8,926 monthly.
He said the adequacy line means the amount of income that will enable a Saudi family to live decently.
He called for reviewing the mechanism to collect Zakat, establishing a special strategy for social development, reviewing the terms and conditions for the payment of the social security assistance and linking it to compulsory education and training.
Emir of Asir Prince Faisal Bin Khalid, who is chairman of the organization's board of trustees, said the organization strongly believes that studies and research can play a pivotal role in the development and progress of any country.
He said the organization has issued many publications focusing on knowledge and culture about charity and social development in addition to the life story of King Khalid.
© The Saudi Gazette 2014
