Establishment



Since its inception, the Bank has witnessed fundamental developments that have put it today as one of the most important development institutions An active and influential role in the process of social and economic development within the components of the Dear Nation, this came in the belief of the wise leadership for importance of the roles it offers in the field of development financing programs for the people of this country on the one hand, and supporting small and emerging enterprises as an important contributor to building the Kingdom's economy on the other hand.
 
The beginning was in 1971, where the royal decree was issued to establish the bank under the name of “Credit Bank” with a capital of 5 million riyals to provide social loans. In 1983, the professional loans program was assigned to the bank, in 1993 the capital was increased to 1 billion riyals, and in 2001 the Custodian of the Two Holy Mosques program was included to finance taxis to the Bank. n 2006, the bank's capital was raised to 6 billion riyals, and a year later in 2007 the name changed to the Saudi Credit and Savings Bank with the addition of three tasks: “Providing loans to small and emerging enterprises - acting as a complementary coordinator for the care of the small and emerging enterprises sector - work to encourage savings”. In 2008, the bank received a royal grant worth 10 billion and support continued by raising bank capital to 46 billion riyals in 2013 with the expansion of lending and development support, and in 2016 The decision of the Council of Ministers to change the name of the Bank to “Social Development Bank”  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, which charted the business map and paved the means of cooperation, the Bank's contribution to increasing the contribution of enterprises has emerged Small, emerging and productive families in the national economy, promoting social services and financial planning represented by savings programs as well as empowering nonprofits.
 
 

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المساعد الذكي
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