Sep 19 2010 |
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SR 402 billion Provided for Citizens by Funding Institutions in the Saudi Arabia
Riyadh --Financial institutions in the Kingdom of Saudi Arabia provided citizens with more than SR 402 billion until the end of fiscal year 1429 / 1430, which contributed to the rapid development in the Kingdom in the fields of agriculture, industry, construction and others.The Custodian of the Two Holy Mosques King Abdullah Ibn Abdulaziz issued his order in Rajab, 1426, to support some of development funds with an amount of SR 25 billion from the surplus of fiscal year 1425 / 1426 AH. as follows:
The capital of Real Estate Development Fund increased by an SR 9 billion to become SR 92 billion,
The capital of Saudi Credit Bank increased by SR 3 billion to become SR 6 billion to support the soft loans for marriage, renovation of houses and medium and small facilities,
he capital of Industrial Development Fund increased by SR 13 billion to be SR 20 billion.
The Public Investment Fund was also supported with SR 20 billion from the budget for fiscal year 1427 / 1428H. The Real Estate Development Fund was also provided with SR 25 billion from the budget for fiscal year 1428 / 1429.
Royal directives were issued in 1429 to the Ministry of Finance to deposit an amount of SR 10 billion for Credit and Saving Bank.
The Custodian of the Two Holy Mosques King Abdullah Ibn Abdulaziz Al Saud approved this year to increase the capital of the Industrial Development Fund by SR 10 billion for supporting the industrial sector.
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