Defaulters complain: Banks refuse to postpone loan installments

Al-Anbat - Saba Al-Sukkar

Translated by Batool Alhajjaj

 Struggling citizens complained to "Al-anbat" that some banks did not postpone the loan installments they owed, demanding that their complaint be considered and that the liabilities be postponed, indicating that their failure came because of the inability to fulfill the payments due for the loans they borrowed from the banks;  This is due to the economic conditions the country is going through, and the high prices, in addition to some being directly affected by the repercussions of the Corona pandemic.  Which led to their access to this financial flair.

In response to the above, Maher Al-Mahrouq, Director General of the Association of Banks, said in an interview with Al-Anbat, that the decision to postpone loan installments in the current month for individuals does not apply to those who defaulted in paying installments previously, because it does not violate the legal article of the Central Bank, while it can Any other customer who was obligated to pay the installments incurred previously by postponing without conditions for that.

It is worth mentioning that it was previously announced that the banks in the Kingdom agreed to postpone the installments of individual loans for the month of December and until the end of the current month without collecting the commission for postponing the installment, and this applies to all banks, and in an automatic way, in an effort by the banking sector to alleviate the burden of citizens in light of the current circumstances.