Citizen Account Program deposits Saudi Riyal 1.9 billion for May

Saudi Arabia’s Citizen Account Program deposited SR1.9 billion ($506 million) into the accounts of 10. 4 million beneficiaries for May.

The national scheme was created to protect Saudi households from the direct, indirect and expected impacts of the various economic reforms taking place in the Kingdom through monthly cash transfers into their accounts.

The cash transfer program has distributed more than SR95.7 billion in payments since it was launched in December 2017.

The program’s spokesman, Sultan Al-Qahtani, said that 76 percent of the total beneficiaries received full benefits, with an average support of SR1,053 per household