Overburden on personal loans in Saudi banks after the decision of women driving the car

Media In / Agencies / Riyadh June 26, 2018

Saudi Arabia’s personal loans to individuals in Saudi banks grew after the Custodian of the Two Holy Mosques King Salman bin Abdul Aziz al-Saud issued a decree allowing women to drive in Saudi Arabia, said the head of the Saudi Banking and Information Promotion Committee.
He said that the banks reacted after the supreme decision through the marketing of their financial products, whether personal or rental for women in a manner that does not violate public or bank credit policies.
Talaat Hafez said that the percentage of interest in owning cars has grown by more than 10% in the first year since its issuance. The accurate figures are difficult to predict at this time, due to the fact that the number of women’s driving licenses has so far been limited. The applications submitted to the competent authorities are many and need time to be terminated and thus exit correctly in light of the small number granted to the size of the applications in the waiting lists, and this ratio includes the nature of ownership of the vehicle, whether it is led or driver or even to be one Of her relatives.
The Secretary-General of the Committee on Information and Awareness Banking, spokesman for Saudi banks, that the proportion of women’s ownership of vehicles will increase in the coming period, with the issuance of licenses to drive them.