SR2.1bn deposited in Citizen’s Account

A total amount of SR2.1 billion was deposited as financial support to eligible Saudis for the month of January on Wednesday, according to Citizen’s Account program Director Ali Rajhi.

This is the program’s second deposit.

Some 50 percent of financial support went to families and individuals with an average of SR935 per family.

Around 3 million families and individuals registered for the financial support program benefitted from the second allotment.

Some 11 million family providers also received a total of SR7.6 million in financial support, said Rajhi. 

He said 800,000 families received more than SR900 per family while 26 percent of the applicants received partial support.

More than SR4 billion has been deposited in citizens’ accounts as financial support in the first and second deposits.

The third deposit will be made on Feb. 10. The deposit will go to applicants who have completed their applications before Jan. 10, said Rajhi.

Saudi Arabia made its first installment of SR2 billion into the household allowance program, with 10.6 million beneficiaries on Dec. 21.

The Citizen’s Account scheme is a cash handout for low- and middle-income citizens to offset the impact of necessary economic restructuring.

The financial aid is based on an applicant’s income, family size and ages of family members. A follow up will be made every three months to see how the financial aid has helped applicants.

Payments are deposited on the 10th of every Gregorian month if it does not fall on a Friday or a Saturday. If the 10th happens to be a Friday, payment will be deposited on Thursday. If the 10th happens to be a Saturday, payments will be deposited on Sunday.

Applicants can lodge complaints through the website www.ca.gov.sa five days after the payment is deposited. The program prioritizes justice to all applicants. Some 13 million are expected to be total beneficiaries, but not all would be approved for eligibility.

Last year, officials presenting the program estimated that a family of six with a monthly income of less than SR12,000 would receive a monthly cash transfer of SR1,200, falling to SR1,000 for a family of six with an income of less than SR15,299.

The Saudi Arabian Monetary Authority (SAMA) directed all local banks not use the Citizen’s Account Program money for any other banking purposes such as giving personal loans or other financing services.