Bank for Social Development signed a cooperation agreement with the Rajeh Bank

Tuesday-2022-11-29

The Social Development Bank signed a cooperation agreement with the Zawd al-Adhajia Bank and the Zod Generations Programme at the Bank headquarters in Riyadh, where the Convention was signed by the Executive Chairman of the Social Development Bank, Mr. Ibrahim Bin Hamad Rashid, and the Executive Chairman of the Rajhya Bank, Professor Walid Bin Abdullah, who is next.

The Convention continues to expand the provision of savings services to the participants of the Saud Saguire programme and the Generation Programme with a number of banks and financial institutions. The Bank will support the aspirations of the Bank for Social Development to achieve the goals of savings programmes and develop the savings of participants, which will provide services and financial solutions. The Savings Saturn programme is the first of the savings programmes launched by the World Bank in 2018. A programme that provided many features, such as a monthly cash incentive of up to 20%, full flexibility in savings management, where the number of participants in savings products (166) exceeded 1,000, the total savings of 343 million rials, and the Saudian programme launched by the Bank for Development last year had been very successful and widely accepted, targeting all Saudi children from 6 to 18 years of age.