JEDDAH: The Jeddah Chamber of Commerce and Industry (JCCI) distributes SR1.5 million annually to members who are in dire financial straits through its Social Support Fund.
“The JCCI launched the Social Support Fund to help its needy members. The dependents of one poor member were recently given SR100,000 after his death to salvage their business,” said Uthman Basaqr, assistant secretary-general of the JCCI, adding that the fund distributed SR1.3 million to 13 members and dependents of deceased members last year.
“While six members received SR600,000 to bail out their crisis-ridden establishments, the heirs of seven members received SR700,000 in back-up assistance,” said Basaqr, who was speaking after handing over assistance to the dependents of a deceased Jeddah businessman recently. A check for SR100,000 was given to the legal representative of Mubarak Al-Bashari’s heirs.
Basaqr said only members running small- and medium-scale businesses are eligible for assistance from the fund. He stressed that the fund aims at encouraging Saudis to continue their activities against all financial odds.
The legal heirs of a deceased member must apply within 30 days of the member’s death in order to be eligible for assistance.
A JCCI member on the brink of bankruptcy is eligible for SR100,000 if he applies before any legal action is brought against him. Last year 137 people who had been in jail for defaulting debt payment worth less than SR20,000 each were released with the help of the fund, he said.
