The Saudi Central Bank (Sama) has extended the Deferred Payment Program from October 1, 2021 to December 31, 2021 for the benefit of micro, small and medium enterprises (MSMEs) that continue to be affected by the Covid-19 precautionary measures.

The Deferred Payment Program is one of Sama's Private Sector Financing Support Programs, reported Saudi Press Agency (SPA).

Since its launch on March 14, 2020 to date, the Deferred Payment Program has benefited more than 107,000 contracts with a total value of SR174 billion ($46 billion) in deferred payments. Meanwhile, the number of contracts benefiting from the Guaranteed Financing Program has exceeded 6,000 contracts, with total financing value of more than SR11 billion.

The purpose of these programs has been to support the private sector as well as financial system liquidity, which should help in easing the economic impact of the Covid-19 precautionary measures on the MSMEs sector, the report said.