The General Organization for Social Insurance has begun exploring solutions to provide personal financing for retirees who are members of the "Taqdeer" program, including the possibility of obtaining additional financing and purchasing existing debts, while setting controls for deductions from the pension to maintain the financial stability of the beneficiaries.

This came after the organization signed a cooperation agreement as part of the financing pathway in the "Taqdeer" program, within the framework of expanding its partnerships with both the public and private sectors, aiming to enhance the benefits offered to retirees and provide quality services and products that contribute to improving their quality of life.

Under the agreement, personal financing compliant with Islamic Sharia laws will be offered, with the possibility for retirees to obtain additional financing even if they have existing financing with other financial institutions.

The benefits also include purchasing current debts and consolidating financial obligations, with the option for early repayment, in addition to exempting the beneficiary from paying the remaining installments in the event of death.

The agreement stipulates that the retiree's age should not exceed 65 years at the time of the last installment's due date, and that installments will be repaid through direct deductions from the pension, not exceeding 25% of the pension amount.

The "Taqdeer" program is one of the initiatives of the General Organization for Social Insurance, providing benefits and offers for retirees in collaboration with several entities in the public and private sectors, in appreciation of their years of service to the nation.

The General Organization for Social Insurance has begun exploring solutions to provide personal financing for retirees who are members of the "Taqdeer" program, including the possibility of obtaining additional financing and purchasing existing debts, while setting controls for deductions from the pension to maintain the financial stability of the beneficiaries.

This came after the organization signed a cooperation agreement as part of the financing pathway in the "Taqdeer" program, within the framework of expanding its partnerships with both the public and private sectors, aiming to enhance the benefits offered to retirees and provide quality services and products that contribute to improving their quality of life.

Under the agreement, personal financing compliant with Islamic Sharia laws will be offered, with the possibility for retirees to obtain additional financing even if they have existing financing with other financial institutions.

The benefits also include purchasing current debts and consolidating financial obligations, with the option for early repayment, in addition to exempting the beneficiary from paying the remaining installments in the event of death.

The agreement stipulates that the retiree's age should not exceed 65 years at the time of the last installment's due date, and that installments will be repaid through direct deductions from the pension, not exceeding 25% of the pension amount.

The "Taqdeer" program is one of the initiatives of the General Organization for Social Insurance, providing benefits and offers for retirees in collaboration with several entities in the public and private sectors, in appreciation of their years of service to the nation.