Riyadh-Mubasher: Each Saudi bank is free to set interest rate on its loans according to its surrounding conditions, said Talaat Hafiz, secretary-general of the Media and Banking Awareness Committee of Saudi Banks.
He rebutted the press news that Saudi lenders plan to unify interest rates.
Interest rates are subject to certain factors, including cost of capital, customers' credit register, size of risks and the required loans, according to the official.
