The Saudi economy is moving towards achieving its desired goals in moving forward on the path of comprehensive development, according to the data and figures revealed by state institutions and the major and vital projects announced recently, especially the future giant project «NEOM», whose construction value is 500 million dollars.

Digital indicators confirming the progress of the economy include the readings on the profits of the banking sector, which jumped by 34.3% (on a year-on-year basis for the month of October).

Among the digital indicators that confirm the progress of the development of the economy are the readings on the profits of the banking sector, which jumped by 34.3% (year-on-year for last September), while total profits reached 33,378 billion riyals, but in contrast, this development was not reflected in the level of loans to the private sector as reports indicate that they decreased over the past seven months by varying percentages ranging from 1.7% to 1.2%.

As for the past seven months, the number of loans provided to the private sector varied from 1.7% to 1.21 TP3T.

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Here, important questions arise in the minds of many knowledgeable people and economists; why has the percentage of financing to the private sector decreased despite the growth and prosperity of cash movement within financial institutions? What are the guarantees required by banks? to support real estate and housing projects and the flow of capital in mechanisms that comply with the directives of the Saudi Monetary Agency and do not constitute an obstacle for the borrower, dealing with this file must be fully transparent and reveal the extent of the deficit in paying private sector debts, which increased by more than 26%, Therefore, banks must include details of their movement and obstacles to work in their departments periodically, in order to keep pace with the next stage, which is based on development through the private sector, and the clearest evidence of this is the announcement of offering part of »Saudi Aramco" and "Neom City" on the stock market.

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We have previously talked about the need to review and reformulate the financing systems so that they are compatible with all parts of the system, especially with regard to real estate development to move projects from the stage of "design completion" to actual implementation, Especially since the community was encouraged by the formation of a higher anti-corruption committee headed by the Crown Prince - may God protect him , which is a strong support for businessmen and investors with fairness and integrity in the distribution of investment opportunities and an incentive for banks to pump their money into major vital projects, in light of the government's protection of individuals.

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The national economy is doing well, as in a short period of time the subscription in local sukuk reaches 10 billion riyals, this generates citizen confidence in the directions of the state and supports it. We hope that financial institutions will follow the same example by facilitating the financing process and ease of procedures.