RIYADH: Small and medium-sized enterprises are a force to reckon with in Saudi Arabia as the Kingdom, in line with the goals outlined in Vision 2030, continues to diversify its economy which has been dependent on oil for several decades. Even when COVID-19 disrupted global economies, SMEs in Saudi Arabia remained steadfast in their growth under the visionary leadership of King
RIYADH: In a move to bridge the financing gap in the small and medium enterprises sector, Saudi Arabia’s National Development Fund has announced the start of operations at the Small and Medium Enterprises Bank. The opening of the new bank will help the SME sector contribute as much as 35 percent to Saudi Arabia’s gross domestic product in line with the Saudi Vision 2030.
RIYADH: Saudi Arabia’s cabinet has approved the Small and Medium Enterprises Bank System, according to the Saudi Press Agency. Ministers signed off the transfer of Kafalah SME Loan Guarantee Program from Monsha'at to SME Bank. Launched in 2021, the Small and Medium Enterprises Bank focuses on providing all its products and services in digital form without the need to establish