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Banks directed not to misuse Citizen’s Account deposits

December 13, 2017 | 08:26 PM
Banks directed not to misuse Citizen’s Account deposits
December 13, 2017 | 08:26 PM
Last Updated: December 13, 2017 | 10:23 PM
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RIYADH – The Saudi Arabian Monetary Authority (SAMA) has directed all local banks not use any amounts of money that are deposited in the Citizen’s Account Program for any other banking purposes.
The central bank asked the banks not to deduct the money from the Account for carrying out any banking transactions such as giving personal loans or other financing.

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