In a sign of approaching ramifications of the global economic crisis that monetary authorities have tried to distance the local banking system from it, the Saudi Credit and Savings Bank has failed to provide interest-free loans to at least 50 percent of applicants since the beginning of this year. In 2008, the state-owned bank branches processed as many as 400 applications a day as compared to an average of 200 applications a day since January 2009. The bank has announced plans to receive online applications to curb the increasing number of applicants at its windows.
