Convention with Solomon Bin Abdulla Al-Jaghi Foundation for the Financing of Productive Families

Wednesday-2017-05-17

The Bank for Social Development signed a joint cooperation agreement with the Solomon Bin Abdullah Foundation for Development Finance (Centre for the Construction of Producer Families-Gene), Sunday, 26/07/1438H, at the Bank headquarters in Riyadh.

The Bank for Social Development signed a joint cooperation agreement with the Solomon Bin Abdullah Foundation for Development Finance (Centre for the Construction of Producer Families-Gene), Sunday, 26/07/1438H, at the Bank headquarters in Riyadh.

The Convention was signed by the Bank, H.E. the Director-General of the Bank, Dr. Abdullah Bin Abdulrahman Al-Namla, and by the President of the Board of Trustees, Dr. Abdulrahman bin Suleiman al-Rajjai, in the presence of a number of officials of both sides.

For the sake of the Bank for Social Development to support, sponsor and finance micro-enterprises and projects for productive families and artisanal and artisanal industries in Saudi Arabia, the support, financing and care they need, and the Centre for Building Producer Families (Centre for Building Productive Families) is a successful local experience in entrenching the culture of free work and self-reliance through the provision of multiple services, including microcredit and care. It has been agreed that the services cover the target groups of citizens in sport.

The Bank for Social Development has allocated a special portfolio to fund projects under this Convention, amounting to R$300,000,300,000.