The Social Security Corporation has urged indebted establishments to take advantage of a decision by its Board of Directors to reduce installment interest on outstanding debts, offering additional benefits and incentives based on the percentage of the initial payment. The measures are available until December 31, 2026.
اضافة اعلان
The corporation said in a statement issued by its Media Center that establishments paying an initial installment of at least 25% of their total outstanding debt can have the installment interest waived in full.
Establishments making an initial payment of 20% can benefit from a reduced installment interest rate of 1%, while those paying an initial installment of 15% can have the rate reduced to 2%.
The corporation said the debt installment interest reductions are intended to support establishments and take into account their economic circumstances, while providing them with an opportunity to regularize their status and settle outstanding debts. This, it said, serves the interests of establishments while safeguarding workers’ social security rights.
The corporation urged indebted establishments to visit its branches or contact its official channels to inquire about how to benefit from the decision and the procedures for paying debts in installments.
It also called on establishments to take the initiative to settle their outstanding obligations before the facilities expire on December 31, 2026.
