Launch of a credit rating for non-profit mediators

Sunday-2021-03-21

The Social Development Bank launched a credit rating service for smaller financial intermediaries and productive families working in the non-profit sector as a means to develop and motivate their partners to improve performance and improve the efficiency of the management of the financial governor, as well as raise awareness among productive families of the importance of regular payment through the follow-up of performance reports available on the national platform of productive families.

The Bank has sought to launch a credit rating service, believing in the importance of this vital sector, which has promising opportunities for target groups, contributing to its development and sustainability through the provision of an adequate infrastructure and an encouraging business environment for its financing partners, creating credit rating indicators aimed at raising awareness, raising efficiency and building a credit register for financing and productive families, which will positively reflect the quality of outputs, and ensuring the benefit of the beneficiaries ' s benefit.

This is one of the Bank ' s main objectives to work on the financial inclusion of target groups and to ensure that the Bank reaches those groups that may not be covered by the programmes and services of the various funding agencies because of solvents and financial capacity. The Bank for Social Development has provided support and funding to microenterprises and productive families, including a number of financial and non-financial services, which have been channelled through our development associations, microfinance partners in all regions of the Kingdom, including soft loans that are commensurate with the development stages of families, capacity-building and other products.

3 billion rials, through more than 145 financial intermediaries in all regions of the Kingdom, which the Bank seeks to enable them to develop and build their capacity to manage the financial governor in accordance with regulations and procedures. The Bank also launched a certificate of registration for productive families through the National Platform for Productive Families, with a view to enabling productive families to become economic entities to enhance the reliability of their products and to facilitate their market access, with over 60,000 governorates issued through the platform.