The Bank for Social Development holds the first meeting of the Governing Council of 2021

Sunday-2021-04-04

Under the chairmanship of H.E. Minister of Human Resources and Social Development, President of the Board of Directors of the Bank for Social Development Engineer/Ahmed Bin Suleiman Al-Jajjai, and H.E. the members of the Board attended the meeting of the Board of Directors of the Bank for Social Development at its first session of Fiscal year 2021. At the beginning of the meeting, the Board welcomed the admission of H.

The meeting discussed a number of topics related to Bank strategic plans and Bank transformation programmes:
1. Human capital transformation programme
2. Accounting transition programme
3. Branch transformation programme
4. Digital transformation programme
The Council has taken a number of decisions and guidance thereon.

The Board reviewed the financing activity for the first quarter of this year, which saw extraordinary growth in all its products for individuals and enterprises compared to the same quarter of the previous year 2020, with growth exceeding more than 100%. The Bank provided funding of approximately R$1.8 billion, benefiting more than 34,000 individual and plant customers. The Bank also provided non-financial services with various consultations, guidance and training courses, benefiting more than 7,000 beneficiaries, with total growth savings.

This growth in all Bank financial and non-financial products is due to the Bank ' s expansion of the financial coverage of community groups, the innovation and development of new products, the improvement of the Bank ' s technical structure and the development of internal procedures.

The Board also reviewed the Bank ' s targets to the end of 2021m, which were ambitious targets for serving all segments of individuals and enterprises, and examined the whole range of topics related to the various funding sectors and their products, which, by God ' s permission, would contribute to the expansion of funding areas and the absorption of new segments of society.

At the conclusion of the meeting, the Board thanked the Bank for the efforts and actions that had taken place during the first quarter of 2021m, culminating in significant growth at all products.