He confirmed that more than 1,000 establishments benefited from financing loans
Dubai – Al Arabiya.net
Published on: September 11, 2023: 02:46 PM GST Last updated: September 11, 2023: 04:10 PM GST
The acting CEO of the Small and Medium Enterprises Bank in Saudi Arabia, Abdul Rahman bin Mansour, revealed in an interview with Al Arabiya that the bank had signed an agreement with the Industries Bank for Small Enterprises in India.
Mansour said that the agreement signed with the Industries Bank for Small Enterprises in India aims to benefit from the Indian party’s expertise in the field of technology in order to develop the bank’s electronic platform.
He added that the Small and Medium Enterprises Bank provided financing amounting to 300 million riyals from the beginning of 2023 until the end of last August.
He explained that more than 1,000 establishments benefited from financing loans.
He continued: “We aim to reach the beneficiaries of small and medium enterprise owners in the Kingdom, so we have cooperated with the Indian party to provide us with the necessary expertise and technology and create an electronic platform in which we cooperate with their expertise to provide all services, products and financing processes through it.”
“We have a complete plan to cover all the needs of small and medium enterprises, as we aim to bridge the financing gap and work to raise the domestic product of small and medium enterprises from 20% today to 35% by 2030.”
2023-09-11 12:10:11
#Exclusive #Monshaat #Bank #Arabiya #financing #million #riyals #beginning
