The Social Development Bank's financing volume since the beginning of 2025 is 6.5 billion riyals.

Tuesday-2025-09-16

The Social Development Bank held its meeting for the third quarter of 2025, chaired by His Excellency the Minister of Human Resources and Social Development and Chairman of the Bank's Board of Directors, Engineer Ahmed bin Sulaiman Al-Rajhi, and attended by board members. 

The meeting addressed several agenda items aimed at enhancing efforts to serve citizens and support the Kingdom's development system.

The board reviewed the performance report, which highlighted the bank's efforts in empowering entrepreneurship through sustainable financing solutions. Total financing provided from the beginning of the year through the third quarter reached SAR 6.5 billion, benefiting more than 90,000 citizens and businesses across the Kingdom. This financing was distributed as follows: SAR 2.5 billion to support self-employed individuals and productive families, benefiting 53,000 citizens, including 14,500 in the third quarter; over SAR 2.4 billion to finance small and emerging businesses, benefiting 7,300, including 2,400 in the third quarter; and SAR 1.6 billion in social financing, benefiting 30,000 citizens, including 10,000 in the third quarter.

The report addressed the bank's efforts in empowering and qualifying beneficiaries, noting that the number of savings accounts reached 58,400 by the third quarter of the year, while approximately 23,800 beneficiaries benefited from empowerment and development services. 

His Excellency Engineer Ahmed bin Sulaiman Al-Rajhi, Minister of Human Resources and Social Development and Chairman of the Bank's Board of Directors, expressed his deep gratitude to the wise leadership for its continuous support of social development and entrepreneurship. He emphasized that these achievements reflect the effectiveness of the bank's strategic directions in empowering individuals and businesses, and creating a labor market that attracts local and international talent, thus supporting the national economy.

For his part, the CEO of the Social Development Bank, Engineer Sultan bin Abdulaziz Al-Humaidi, affirmed that these achievements are an extension of the support the bank receives from the wise leadership to enhance comprehensive development. He pointed out that the bank continues its role as a national development enabler through an integrated system of financial and non-financial solutions that contribute to empowering entrepreneurs, promoting business growth, and transforming entrepreneurial ideas into sustainable projects that contribute to building a vibrant and productive economy.

The Board commended the bank's initiatives supporting entrepreneurship and youth empowerment. The third quarter saw the launch of Khamis Mushait Avenue, one of the bank's initiatives to provide shared workspaces and a stimulating entrepreneurial environment, with the number of branches reaching 13 across the Kingdom. In addition, the bank organized the Franchise Go Forum, which witnessed broad participation from local and international brands and experts, aiming to promote the franchise culture as a driver of sustainable economic growth. The bank also continues its leading role internationally by participating in the G20 Young Entrepreneurs' Alliance Summit (G20 YEA), showcasing its initiatives in supporting small and emerging businesses and freelancers, thus reaffirming its role as a strategic partner in empowering youth and expanding opportunities for international cooperation in supporting innovation and the growth of startups.