RIYADH — The Saudi Central Bank (SAMA) has extended the deferred payment program for the impacted micro, small and medium enterprises (MSMEs), which are still impacted by COVID-19 precautionary measures, for three additional months from July 1, 2021, to Sept. 30, 2021. The extension of the program is consistent with the Saudi Central Bank"s mandate to maintain financial sector stability, and to enable financial institutions to support economic growth and employment levels in the private sector, SAMA said in a statement on Tuesday. SAMA clarified that during this extension MSMEs will be subject to the assessment by the financing entities on the extent to which these MSMEs are still affected by COVID-19 precautionary measures, in order to be qualified for the extension. This also applies to qualified MSMEs impacted by the preventive measures to protect the health and safety of pilgrims, in accordance with the Deferred Payment Program guidelines. Since its launch on March 14, 2020, to date, the Deferred Payment Program has benefited more than 106,000 contracts with a total value of deferred payments worth SR167 billion. Meanwhile, the number of contracts benefiting from the Guaranteed Financing Program has exceeded 5,282 contracts, with a total financing value of more than SR10 billion. The purpose of those programs is to support the liquidity level in the financial sector (banks and finance companies) and to enable the financial sector to ease the economic impact of the COVID-19 precautionary measures on the private sector, especially the MSMEs sector, SAMA added. — SG