Meeting of the Standing Committee of Productive Families

Sunday-2019-04-21

The work of the Standing Committee of Productive Families was initiated, chaired by H.E. the Director-General of the Bank for Social Development and a number of relevant government agencies, whose first meeting was held in Riyadh City.

In this regard, the Director-General of the Bank, Chairman of the Committee, Professor Ibrahim Bin Hamad Al-Rashid, stated that the Committee was composed of many relevant governmental actors in order to consolidate efforts and work partnership, to distribute their respective roles, which would be in the interest of the modern sector, which the State attached great importance to it.I'm sorry.

The President said that, following the approval of the Council of Ministers of the Regulation on Producer Families and the allocation of management to the Bank, responsibility for the Bank had become doubling, noting that the Bank would not limit itself to funding but would work with partners in other government sectors to provide and manage an integrated system to regulate, support and empower the productive family sector and microenterprises in the Kingdom, both in legislative and regulatory aspects, control, improvement and development as well as well as financial and non-financial support, as well as marketing through platforms and outlets and outlets.I'm sorry.
The petitioner asserts that the formed committee will redouble its efforts to develop and empower this sector to be a developmental deterrent influencing the national economy.I'm sorry.
The Chairman of the Committee thanked the Board of Directors of the Bank for Social Development for agreeing to allocate R$4 billion of the Bank ' s capital to provide concessional funding for productive family projects in addition to the State ' s allocation for this programme.I'm sorry.
The first meeting of the Standing Committee of Productive Families reviewed the efforts of the Bank for Social Development during the past period since the approval of the Council of Ministers. The Bank has set up an internal committee to begin preparing the procedural guide to the regulation, where several meetings have been held in several regions of the Kingdom, in partnership with representatives of all relevant sectors to take their views and perceptions, and the Bank has been able to finalize and review the draft procedural guide with members of the Standing Committee. I'm sorry.

Also during the meeting, a review of the Bank ' s consolidated national platform project, which will be allocated to productive families, manage financial and non-financial service delivery processes through which family products can be displayed and marketed, as well as many services that facilitate the journey of productive family enterprises and their trade, including the strengthening of supply chains and value. The platform will enable the collection of the database of productive families in the Kingdom and its impact and contribution to the growth of the local economy.I'm sorry.

It should be noted that the Committee is composed of several sectors, including the Ministry of Labour and Social Development, the Ministry of Municipal and Village Affairs, the Ministry of Energy, Industry and Mineral Resources, the Ministry of Trade and Investment, the Ministry of Culture, the Ministry of Economy and Planning, the Ministry of Education, the Ministry of Environment, Water and Agriculture, the General Tourism and Heritage Authority, the Council of Saudi ChambersI'm sorry.

Over the past period, the Bank has financed over 45,000 productive families and microenterprises with a total value of approximately 600 million rials.I'm sorry.
It should be noted that the Bank has benefited more than 2.6 million citizens and citizens from the various services and products of the Bank since its founding in 1391 and so far, lending has exceeded SAR 105 billion in both social financing and the financing of emerging and small enterprises. The Bank is the most effective economic empowerment portal at the Kingdom level, and those wishing to benefit from Bank products and services by visiting the website:www.sdb.gov.sa