JEDDAH, 22 August 2004 — Saudi banks have blacklisted 140,000 Saudis for not paying their debts worth SR1.3 billion, an official at Saudi Arabian Monetary Agency said.
The SAMA official said the number of blacklisted clients increased by 28 percent during the last three years. “Blacklisted clients will not receive any loans from any banks in the future,” the official added.
Personal loans sanctioned by Saudi commercial banks amounted to SR70 billion until May this year, Okaz daily quoted the official as saying.