MSMEs Deferred Payment Program Extended for 3 Additional Months

The Saudi Central Bank (SAMA) announces the extension of the Deferred Payment Program – one of SAMA’s Private Sector Financing Support Programs – for three additional months from      October 1, 2021 to December 31, 2021.

SAMA announcement comes for the benefit of micro, small and medium enterprises (MSMEs) that are still being affected by the COVID-19 precautionary measures, according to the assessment of the financing entities.

Since its launch on March 14, 2020 to date, the Deferred Payment Program has benefited more than 107 thousand contracts with a total value of SR 174 billion in deferred payments.

Meanwhile, the number of contracts benefiting from the Guaranteed Financing Program has exceeded 6 thousand contracts, with total financing value of more than SR 11 billion.

These programs aim to support the private sector as well as the financial system liquidity, which help in easing the economic impact of the COVID-19 precautionary measures on the MSMEs sector.