2023-07-23 00:44:00
The Saudi Royal Court provides loan forgiveness service as part of its main mission to provide financial comfort to citizens, and this is in light of the difficult economic conditions that some may face. In this article, we will focus on the basic details of this service and how to benefit from it.
The Royal Court in Saudi Arabia aims to ease the financial burdens on citizens by repaying loans on their behalf. However, there are certain conditions that must be adhered to in order to obtain this service. Of which:
The applicant must be a Saudi citizen and comply with all bank loan conditions. The Royal Court must be provided with all required data. The applicant must provide medical evidence proving his inability to pay the remaining installment. The applicant must obtain a loan forgiveness application from the bank from which the loan was obtained. Documents proving the applicant’s inability to work and thus pay off debts must be provided.
Documents required to apply for loan forgiveness
To obtain approval for a loan forgiveness application, the following documents must be submitted to: Royal Court website:
Evidence showing how low the salary is and insufficient to pay the remaining installments. The number of the loan obtained that cannot be repaid. A copy of the applicant’s national identity card, which must be valid. All medical reports and documents proving the applicant’s health condition, which indicates his inability to continue working to pay off debts.
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