Personal Loans Policy:


1.The Company shall grant the employees two-month salary as personal loan without interest, according to the following conditions: -


        A- If there is a real and urgent need for the requested loan with an explanation.


        B- An employee has completed a minimum of one year.


        C- The employee shall be granted the loan once; no other loan will be made until the previous loan has been recovered.


2- The decision of granting the loan is at the sole discretion of management.


3- Loan priorities are granted by the timing of the loan applications.


4- 10 % of the employee’s salary shall be deducted for purpose of granted loan recovery.


5- The employee is allowed to pay the loan amount from his annual commission, if he wishes to do so.


6- If the employee service is terminated before repaying the loan, the remaining loan amount shall be deducted from the employee’s entitlement or outstanding amounts.


7- The employee may be granted another loan after repaying all of the previous loan and if there are no applications for other employees preceding his application.


8- Personal loans shall be granted for maximum 15 % of the workforce.


9- In case of employee’s death during service, the Company waives its right claim refund of paid loan from his heirs. (The decedent's relatives).