Banks can’t cut loan installment from employee bonus — SAMA

February 6, 2015

Jeddah, Feb 6: The Saudi Arabian Monetary Agency (SAMA) has ordered all Saudi banks not to touch the two-month salary bonus granted by Custodian of the Two Holy Mosques King Salman to all Saudi government and military employees, retirees and students.

Saudi Arabian

According to Talat Hafiz, secretary-general of Media and Banking Awareness Committee of Saudi Banks, this procedure will protect Saudis who are eligible to take advantage of the royal decree, but have been required to pay bank loans.

“SAMA’s instructions are clear to all Saudi banks. There are several Saudi state employees who are required to pay bank loans. At the same time, the two-month bonus is considered a gift from King Salman to Saudis and banks do not have the right to deduct anything from these benefits,” Hafiz told Arab News.

Most Saudis prefer to work in a limited number of major Saudi companies, such as Saudi Aramco, SABIC and other large national employers that have a good reputation with local banks, making it easier for employees at these companies to secure loans.

Meanwhile, Finance Minister Ibrahim Al-Assaf on Wednesday informed all government departments that his ministry has started providing them with additional funds to implement the royal decree.

Al-Assaf also instructed the ministries and departments to pay the two-month bonus to all the retirees including those who have been allowed to take long leave because of pregnancy or disease.

“The bonus shall be paid on the basis of the latest basic salary while the two-month stipend shall be given to only students of government universities and colleges,” he said.

Referring to government employees who pursue higher studies abroad on scholarship, Al-Assaf said they would be treated like scholarship students in foreign countries and paid only two-month remuneration. He also instructed ministries to avoid double payment. “The bonus payment should not be linked with the timing of the payment of usual salary,” the minister said.

The total bonus for government employees, retirees and students would amount to SR110 billion.

Fadiya Al-Fawaz, an expert in social responsibility programs, said major Saudi companies would cut down their allocations for their CSR programs in 2015 as a result of the payment of bonus. She said fall in oil prices would also affect CSR programs for social welfare this year.

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News Network
May 19,2024

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A senior UN official says around 800,000 people have been "forced to flee" Rafah in the southern Gaza Strip since the Israeli regime began carrying out ground incursions into the refugee-packed city from various axes.

Philippe Lazzarini, the head of UNRWA, the UN agency for Palestinian refugees, made the remarks in a post on X, former Twitter, on Saturday.

"Nearly half of the population of Rafah or 800,000 people are on the road having been forced to flee since the Israeli forces started the military operation in the area on May 6," he said.

The invasion of the city came amid a genocidal war against Gaza by the regime that has so far claimed the lives of more than 35,300 Palestinians.

Around 1.5 million Palestinians had taken refuge in Rafah prior to the incursions, having fled there from the ravages of the war that began following a retaliatory operation against the occupied territories by Gaza’s resistance groups.

The Gazans, who have now left the city, have fled to "the middle areas and [the southern Gaza city of] Khan Younis, including to destroyed buildings," Lazzarini said.

Al-Mawasi, a 14-square-kilometer town on the coast, as well as the central city of Deir el-Balah, were "crammed" with recently displaced people, he added.

"Every time, they are forced to leave behind the few belongings they have ....Every time, they have to start from scratch, all over again."

The Israeli military has, meanwhile, seized the Rafah crossing in southern Gaza, which borders Egypt and serves as the main point of entry for aid supplies, including fuel, into Palestinian territory.

The move came as part of an all-out siege that the regime has been enforcing against the entire Gaza simultaneously with the war.

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News Network
May 6,2024

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The Israeli regime is forcibly evacuating Palestinians from the eastern part of Rafah in the southern Gaza Strip amid the prospect of its widely-discouraged ground invasion.

“The estimate is around 100,000 people,” an Israeli military spokesman told journalists on Monday when asked how many people were being evacuated.

International organizations, including the United Nations, have repeatedly warned the regime against invading the city, citing its hosting around 1.5 million Palestinian refugees.

UN Secretary-General Antonio Guterres said a ground assault on Rafah would “put the final nail in the coffin” for humanitarian aid operations in the Gaza Strip.

The UN Office for the Coordination of Humanitarian Affairs also said, “Any ground operation would mean more suffering and death,” with an official saying “It could be a slaughter of civilians.”

Multiple aid agencies, including the Norwegian Refugee Council, have likewise warned against a Rafah offensive.

The NRC said such an invasion “would profoundly exacerbate the already catastrophic levels of need and the humanitarian emergency for millions of civilians with nowhere left to go.”

The official alleged Hamas had killed three Israeli forces on Sunday, attacking them from Rafah.

The evacuation order came a sat least 22 people lost their lives in the regime’s airstrikes killed in Rafah earlier on Monday.

Rafah’s evacuation “is part of our plans to dismantle Hamas,” the Israeli spokesman added, referring to the Palestinian resistance movement that has been defending Gaza in the face of the war.

The Palestinians have fled there from the ravages of a war that the regime began waging against Gaza on October 7, following a retaliatory operation by the coastal sliver’s resistance groups.

At least 34,683 Palestinians, mostly women and children, have been killed and 78,018 others injured so far during the brutal military onslaught.

On Friday, Hossam Badran, a member of Hamas’ Political Bureau, said Israeli prime minister Benjamin Netanyahu’s insistence on carrying out a ground invasion of Rafah was a key stumbling block in negotiations aimed at a truce agreement.

The Israeli premier has said the regime would go ahead with invading the city “with or without” a truce.

Hamas has, however, asserted that the regime has failed to defeat the resistance during the war.

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