Saudi Gazette report

RIYADH — The General Organization for Social Insurance (GOSI) on Thursday disbursed nearly SR2.2 billion for over 400,000 citizens in line with regulations stipulated in GOSI’s unemployment scheme (SANED), Saudi Press Agency reported on Friday.

The move follows the royal order for providing financial support to citizens who work in private sector companies affected by the economic fallout of the coronavirus outbreak.

“The financial assistance was provided to the beneficiaries who submitted their applications during the specified period announced earlier,”said Sulaiman Al-Quweiz, the GOSI governor.

With regard to those who submitted their applications after the end of the specified period and during April, they will be paid the compensation for May on June 1, 2020.

“The support has covered over 80,000 firms and more than 400,000 Saudis have benefited from it. They form over 23 percent of the total Saudis in the private sector who are registered with the GOSI. The method for submitting the application for the support is easy and clear, and all complicated conditions for eligibility have been removed,” Al-Quweiz said.

Al-Quweiz stressed that the statistics point out the Saudi economy is strong, specifically during this crisis and it is evident from the fact that the majority of the private sector companies and firms did not seek the government support as they are financially well placed to tide over the crisis.