DAMMAM: The decision to allow women to drive will result in increased car sales requiring bank loans, and it is expected that banks will see a growing demand on this kind of loan; therefore, Saudi banks are getting ready to offer services to these women, a bank source said.
Talat Hafiz, secretary-general of the media and banking awareness committee of the Saudi banks, said that banks are ready to finance women wanting to buy cars directly and indirectly through payments to car dealerships, pointing out that this decision will have beneficial economic impacts such as facilitating the work of women and expanding their economic roles.
He pointed out “one of the main problems impeding women’s work is transportation. The money women spend on taxis is considered a big waste. Therefore, families will be able to save a lot now.”
“Car sales in the Kingdom reach 600,000 thousand annually. However, this number will increase by 50 percent in the coming period, which will have many positive impacts on the country’s economy, including the GDP,” he added.
As for the banks’ position regarding this decision, he said that banks make no distinction between women and men, whether it is a consumer, mortgage or investment loan. However, banks expect to receive more female applicants in the coming period, which will have a positive impact on the overall economy.
He said that banks are ready to support this decision, noting that there will be new job opportunities for women in the transportation sector, such as with transportation companies Uber and Kareem, which might hire female drivers, giving more privacy to women who would prefer a female driver instead of a male one.
Saudi Arabia’s banks getting ready to finance women buying cars
Saudi Arabia’s banks getting ready to finance women buying cars
Saudi Arabia condemns Israeli minister’s call for sovereignty over occupied West Bank
- Kingdom’s foreign ministry said the move would violate international laws
RIYADH: A government minister’s threat for Israel to apply full sovereignty over the occupied West Bank was strongly condemned by Saudi Arabia on Wednesday.
The Ministry of Foreign Affairs said the Kingdom “condemned and denunciated” the statement made by the Israeli official calling for the imposition of sovereignty over the Palestinian territory.
Such action would be a violation of international law, the statement said. Saudi Arabia rejects any attempts to expand settlements on Palestinian land, the ministry added, while reiterating the Kingdom’s position on the importance of Israel abiding by international resolutions.
The statement followed comments from Israel’s Justice Minister Yariv Levin saying “the time has come” for Israel to apply sovereignty across the West Bank.
Israel occupied the West Bank and East Jerusalem in 1967 and has built dozens of settlements, deemed illegal under international law, across the territory.
The Saudi foreign ministry offered its support for the Palestinian people in restoring their legitimate rights and in establishing a Palestinian state on the 1967 borders, with East Jerusalem as its capital.
Saudi ministry recalls faulty chargers over fire risk
RIYADH: Saudi Arabia’s Ministry of Commerce has announced the recall of 88,518 Anker portable chargers across multiple models due to a potential internal electrical short circuit that may cause overheating and pose a fire risk.
The ministry urged consumers to immediately stop using the affected products and contact Anker at the toll-free number 8008500030 to arrange a replacement or full refund, the Saudi Press Agency reported on Wednesday.
Consumers can check if their device is included in the recall and start the replacement or refund process by visiting anker.com/mmrc2506.
Users are also advised to verify the model number of their charger against the list of affected products on the Defective Products Recall Center website ecalls.sa.
The ministry reaffirmed its commitment to consumer safety and stressed the importance of promptly addressing product defects to prevent potential hazards.
GCC passports departments chiefs hold meeting
Gulf Cooperation Council Secretary-General Jasem Albudaiwi participated in the 39th Meeting of the Directors-General of Passports of the GCC countries, held on Wednesday at the headquarters of the General Secretariat in Riyadh.
During the meeting, he reviewed the latest developments, including the Gulf visa project.
The passport departments of the interior ministries of GCC countries, through a series of joint meetings, are making efforts to launch a unified tourist visa project in the near future, the General Secretariat said in a report.
“Everyone is working as one team to keep pace with technological developments and security requirements in a world characterised by rapid change,” Albudaiwi said.
Saudi FM discusses regional developments in call with US secretary of state
RIYADH: Saudi Foreign Minister Prince Faisal bin Farhan held a phone call with his US counterpart Secretary of State Marco Rubio on Wednesday, Saudi Press Agency reported.
During the call, Prince Faisal and Rubio reviewed US-Saudi relations and ways to enhance the strategic partnership between their countries. The latest regional and international developments were also discussed.
Saudi delegation in Tokyo for talks on GCC-Japan free trade agreement
- Trade volume between Kingdom, Japan reached $36bn in 2024
- Saudi team oversees and monitors progress of trade negotiations
TOKYO: Farid bin Saeed Al-Asali, the General Authority for Foreign Trade’s deputy governor for international agreements and organizations, is in Tokyo to lead the Kingdom’s delegation in the second round of negotiations on the free trade agreement between the GCC and Japan, which began on June 30 and will run until July 4.
According to GAFT, the Saudi negotiating team includes nine technical teams focused on goods, services, investment, e-commerce, intellectual property, and government procurement.
Comprising 46 government agencies, the teams prepare the Kingdom’s positions on negotiations and proposals within the World Trade Organization and free trade agreements, and submit relevant reports to the negotiating team.
In 2024, the trade volume between Saudi Arabia and Japan reached about $36 billion. The most significant exports from the Kingdom were mineral products and organic chemical products. In contrast, the primary imports from Japan included automobiles and automotive components, as well as machinery and mechanical tools.
Overall, Saudi Arabia’s exports totaled about $28 billion, while imports amounted to around $8 billion.
The Saudi team oversees and monitors the progress of trade negotiations to ensure they align with the Kingdom’s trade objectives and policies. Additionally, the team participates in the negotiations to incorporate the Kingdom’s positions, making their role integral to the process.
The General Authority for Foreign Trade aims to enhance trade gains, strengthen global presence, and engage with international organizations for sustainable development. The authority plays a crucial role in negotiations, representing the Kingdom’s interests and ensuring trade agreements align with its objectives.
