Saudi central bank curbs credit card cash withdrawals -source

August 2, 2015 10:08 AM

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KHOBAR, Saudi Arabia Aug 2 Saudi Arabia's central bank has tightened restrictions on cash withdrawals from banks using credit cards in an effort to head off any consumer debt problems.

Previously, under an informal industry arrangement customers could obtain cash advances equivalent to as much as 50 percent of their monthly credit card spending limits, paying hefty fees to do so, bankers said.

Also read: India cenbank says to withdraw temporary cash reserve ratio hike

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