- JEDDAH: The Shoura Council on Sunday passed a law regulating settlement of citizens’ debts to the state and private firms.
- Analysts said the law would benefit companies rather than citizens.
Muhammad Al-Ghamdi, secretary-general of the consultative body, said the majority of Shoura members voted in favor of the law.
“Many citizens are indebted to telecom and installment companies. The deduction of such debts from amounts owed to them by other parties would benefit private companies,” said Ahmed Al-Ghamdi.
Faisal Al-Otaibi, a teacher, expressed his hope that the government would take steps to write off the debts of citizens and compensate the lender (companies or individuals) by setting up a special fund.
He referred to Kuwait’s successful experiment in this respect as the country settled the debts of its citizens without deducting the money they owned to the state or companies from their bank accounts.
Hanadi Al-Balawi, a government employee, said she would be happy if the state takes steps to written off their debts to either the government or private firms.
“Some installment firms blacklist citizens who failed to pay their dues. If this law solves the problems of these citizens it would contribute to their progress and prosperity,” he said.



