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Loans of dead Saudis waived
SPA Published in The Saudi Gazette on 08 - 01 - 2012

The Real Estate Development Fund (REDF) has approved waiving loans exceeding SR274 million granted to citizens who have since died.
The approval was sanctioned by Muhammad Bin Ali Al-Abdani, Director General of the fund, and is in implementation of Royal Decrees issued by King Abdullah, Custodian of the Two Holy Mosques.
Al-Abdani pointed out that the loan exemption covers 1,828 deceased citizens.
The Royal Decrees, issued last February, supported the REDF with an additional amount of SR40 billion to enable it to meet the demands for loans.
The order exempted all deceased people from the fund's loans installments for residential purposes and the Ministry of Finance was directed to refurbish the fund equal to the amount of the exempted loans.

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