Saudi Arabia records 16% surge in credit card loans in Q1 2024

Saudi Arabia records 16% surge in credit card loans in Q1 2024

RIYADH: Saudi Arabia recorded a 16 percent annual surge in credit card loans in the first quarter of 2024 to reach SR27.25 billion ($7.3 billion), the latest central bank data showed.

The Saudi Central Bank, also known as SAMA, figures indicate a shift in consumer behaviors about cashless payment options and show that the Kingdom is on track to become a cashless society. Saudi Arabia records 16% surge in credit card loans in Q1 2024

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