Saudi considers providing $13,000 financial aid to newlyweds - Gulf Business
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Saudi considers providing $13,000 financial aid to newlyweds

Saudi considers providing $13,000 financial aid to newlyweds

Increasing marriage-related expenses are said to be preventing young Saudi men from getting hitched

Saudi Arabia’s Ministry of Labour and Social Development is reportedly considering a proposal to provide newlywed couples with up to SAR 50,000 ($13,333) in loans.

Saudi Gazette cited a source as saying the Commission of Experts in the Council of Ministers had asked the ministry to conduct a study into the finances hurdles preventing marriages.

“The study should look into the reasons for delayed marriages and propose possible solutions,” the source was quoted as saying. “The commission demanded that the ministry make available loans for marriage to help grooms pay for dowry and other expenses and help the bride with special requests for the wedding or the home.”

The study is also expected to reveal how marriage loans are spent to help provide a better understanding of the expenses of newlyweds.

“The increase in marriage-related expenses has made marriage very hard for many young men. The ministry should study the average income of single men looking to get married and the average rate of dowry which has been increasing lately,” said the source.

Booming properties prices and rising interest rates were also cited as a deterrent preventing young men from marrying.

The commission previously proposed that Saudi men wishing to marry women were provided with SAR 50,000 in financial aid if they earned less than SAR 9,000 a month.

This was rejected and the commission is now conducting a study to look into what obstacles led to its refusal, the source was quoted as saying.

They also said the Saudi Ministry of Culture and Information was proposing that profits from sporting events were reallocated to support marriages.

Newlywed couples in the country currently receive support from the Saudi Credit and Savings Bank in the form of loans.


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