About SDB

 

The Bank is considered one of the important pillars of development in empowering citizens by providing affordable financing products and programs to contribute to an active and influential role in the process of construction and development and advancing the national economy. Since its inception, the Bank has witnessed fundamental developments that have placed it today as one of the most important developmental institutions that play an active and influential role in the process of social and economic development within the components of the dear country. Supporting small and emerging enterprises as an important contributor to building the Kingdom's economy on the other hand.

Last Updated:2024/01/16 Gregorian

Start

The beginning was in the year 1971 AD, when a royal decree was issued to establish the bank under the name “Lending Bank” with a capital of 5 million riyals to provide social loans. In 1983 the bank was assigned a professional loan program, and in 1993 the bank’s capital was increased to one billion riyals. The Custodian of the Two Holy Mosques to finance taxis to the bank, and in 2006 the bank’s capital was raised to 6 billion riyals, and a year later in 2007 the name was changed to the Saudi Savings and Credit Bank with the addition of three tasks: “Providing loans to small and emerging enterprises - acting as a coordinator complementing the sponsorship of the sector.” Small and Emerging Enterprises - Encouraging Savings. In 2008, the bank received a royalty of 10 billion, and the support continued to raise the bank’s capital to reach 46 billion riyals in 2013 with the expansion of lending and development support. Achieving comprehensive and sustainable development empowerment for a vibrant and productive society. In line with the ambitious development goals of Vision 2030, which drew the business map and paved the way for joint cooperation, the bank’s contribution to increasing the contribution of small and emerging enterprises and productive families to the national economy and the promotion of social services and financial planning represented in savings programs as well as the empowerment of non-profit organizations has emerged.

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Mission

Provide financial and non-financial services and targeted savings plans supported by qualified human resources to contribute to social development, build partnerships with multiple sectors, spread financial awareness, and promote a culture of self-employment among all segments of society.

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Vision

To be pioneers in empowering social development tools and enhancing the financial independence of individuals and families towards a vital and productive society.

SDB Values

Win Customers

We achieve our customers’ goals by anticipating their needs and understanding their aspirations to provide appropriate services and solutions with high efficiency.

Transparency

We create growth opportunities for all of our colleagues by empowering them and providing encouragement, guidance and ongoing support.

Show Accountability

We embrace responsibility for all our tasks and are committed to quickly completing our work to achieve continuous development and build a high-performance culture.

Drive Innovation

We think boldly and openly and embrace the application of bold ideas and innovative methods to contribute to continuous growth.

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Build Partnerships

We integrate through building diverse partnerships in terms of ideas and efforts to achieve common gains that contribute to building a vibrant and productive society.



 
 

 

Objectives

First

  • Providing interest-free financing and non-financial services for micro-enterprises, to encourage their owners to practice businesses and professions themselves and for their own account, and the bank determines the classification of these projects and the upper limit of their capital and the number of employees in them.

Second

  • Providing interest-free loans and non-financial services to associations and civil institutions, enabling them to contribute to providing services to the segments that the bank targets.

Third

  • Providing interest-free social financing for low-income citizens to help them overcome their financial difficulties.

Fourth

  • Providing interest-free loans to small and emerging enterprises, in order to help raise their contribution to the national economy and create job opportunities.

Fifth

  • Providing supportive technical and administrative services to the facilities benefiting from the bank's services to raise their efficiency and increase its chances of success.

Sixth

  • Motivating the private sector to participate in social responsibility by managing private financial portfolios by the bank and directing them to the beneficiaries of its services in order to achieve the goals of social development.

Seventh

  • Work to encourage savings for individuals and institutions in the Kingdom, and find tools and programs that achieve this goal.

Eigth

  • Developing and nurturing the micro-enterprise sector in order to enhance its role in economic and social development.

Inception & Establishment
 

1971
1983
2016
1993
2001
2006
2007
2008
2013
2016
 
 

Royal Decree was issued to establish the bank under the name of “Credit Bank” with a capital of 5 million riyals to provide social Financings.

The professional Financings program was assigned to the bank.

The capital was increased to 1 billion riyals.

The Custodian of the Two Holy Mosques program was included to finance taxis.

The bank's capital was raised to 6 billion riyals.

 The name was changed to the “Saudi Credit and Savings Bank” with the addition of three tasks: “Providing Financings to small and emerging enterprises – acting as a complementary coordinator for the care of the small and emerging enterprises sector – work to encourage savings”

The bank received a Royal Makruma (Benefaction) worth SAR 10 billion.

Bank capital was raised to 46 billion riyals with the expansion of lending and development support.

The resolution of the Council of Ministers was issued to change the name of the Bank to “Social Development Bank” (SDB) heading towards broader prospects in achieving inclusive and sustainable development empowerment of a vibrant and productive society, in line with the ambitious development goals of Vision 2030. SDB plays a significant role for boosting the contribution of small and emerging enterprises, and productive families to the national economy, focusing on social services and financial planning represented in savings programs, as well as empowering non-profit organizations.

Know More About SDB

SDB Strategy

In line with the Bank's role in social development, its plans and strategies have been formulated to unify efforts and achieve the goals and programs of the Kingdom's Vision 2030.

SDB Budget

The budget of the Social Development Bank is approved in a way that serves the objectives of the bank.

SDB Partners

The Social Development Bank is keen to weave the threads of partnership between it and the governmental and private sectors and international organizations

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Result

3.3 (From 3 Ratings)
 
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