Citizens fund open to Saudis earning less than $5,599 a month from Feb

Saudi nationals earning less than SAR21,000 ($5,599) a month will be able to register for the country’s citizens fund at an estimated 444 new centres from February 1, according to reports.

Local daily Al-Madina cited a senior official at the Ministry of Labour and Social Development as saying financial assistance will not be issued retrospectively if citizens do not register on time.

“This will be in addition to the registration on a special electronic gate,” the official was quoted as saying.

The up to 850,000 Saudi families – totalling 2.5 million individuals or 15 per cent of the population – already receiving social security payments in the kingdom will automatically be registered for the fund.

The official warned that any citizens who submit false data would be penalised.

“We have linked the fund with a number of government departments. So it will be easy for us to detect any wrong data,” he was quoted as saying.

Saudi families, individuals, women married to foreigners and displaced tribes with cards enabling them to move between cities will be accepted by the fund.

However, it will not provide assistance to citizens who stay outside the country for 90 days or more a year.

The new social assistance scheme was announced as part of the 2017 Saudi budget. It is designed to reduce the impact of subsidy reductions on citizens.

Read: Saudi Arabia cuts 2016 budget deficit, to boost 2017 spending