Complex Made Simple

No more loans for men starting lingerie, cosmetics shops

A Saudi government committee has said that financial loans to help starting up businesses that sell lingerie or cosmetics will be restricted to women applicants only, and that loans for this purpose by men will be declined, Saudi Gazette has reported. The new ruling by representatives from the Ministry of Municipal and Rural Affairs, Saudi Credit and Saving Bank, and the National Entrepreneurship Institute in Riyadh, will be implemented from next month. "Support for the business projects in lingerie shops owned by men who have already been approved prior to this new ruling will continue. However, any new applications submitted by men for loans to open lingerie or cosmetics shops will be rejected as soon as we receive them, and the proposal will not even be considered," said a member of the committee.