JK NNI NEWS
King Salman has issued a directive to the Saudi Arabian Monetary Agency (SAMA) instructing banks not to deduct any funds from the cost of living allowances and bonuses issued through his recent decrees. The Saudi government introduced measures last week to help citizens adjust to the new 5-percent value-added tax (VAT) and a hike in fuel and electricity prices.
The royal decrees include a financial support package to help citizens adjust to economic reforms.
The package includes citizens working in the state’s civilian and military sectors, as well as pensioners and students. It covers housing, education, health care and a rise in salaries.