The Social Development Bank thanks the Custodian of the Two Holy Mosques and the Crown Prince for the support he received for the continuation of the march

Friday-2020-12-18

In compliance with the Bank ' s strategy to support self-employment and microenterprise patterns, as well as to continue to provide social loans, the Bank ' s funding rates for productive loans have been increased for the first time in its history in compliance with the World Bank ' s 2030 vision programmes that promote productivity, local content development and financial sustainability.

On this occasion, the Minister for Human Resources and Social Development, President of the Board of Directors of the Bank for Social Development, Engineer Ahmed Ben Suleiman Al-Rajjay, thanked and appreciated the servant of the Two Holy Mosques, King Salman Bin Abdul Aziz Al Saud and Sumo, who had been vested with the unlimited support of the Bank for Social Development, confirming that the Bank had provided funding of more than R$ 9 billion, including R$ 5 billion, for sustained growth.

For his part, the Executive Chairman of the Social Development Bank, Professor Ibrahim Bin Hamad al-Rashid, expressed his sincere thanks and gratitude for the wise leadership with the Bank ' s substantial support as well as for the Bank ' s Board of Directors, emphasizing the Bank ' s pursuit of the strategic objectives of its 20 pillars, which are based on the inclusion of low-income people and enable them to set up their small enterprises, provide non-financial services, raise financial awareness, a culture of free work, and a record of 50 million years.

It should be noted that in the current year 2020, the Bank has adopted 10 billion rials, 60 per cent of the share of productive areas, with a number of specific and specialized products, including the Microfinance Producer, the launch of a freelance product and accelerated procedures for the delivery of a co-transport product, while the Bank has been involved in launching a number of initiatives through the Corona pandemic through 12 initiatives, including the postponement of premiums for microent enterprises and productive families.