Arab Press

بالشعب و للشعب
Friday, Jun 20, 2025

SNB signs cooperation agreements to support SMEs

SNB had signed cooperation agreements with the Small and Medium Enterprises General Authority “Monsha’at,” with the goal of supporting the SMEs and entrepreneurship sector, as well as providing a comprehensive system of quality financing and banking services and solutions.
This is part of its contribution to economic development to achieve the Saudi Vision 2030 objectives, and it is consistent with its efforts to support and empower the SME sector.

These deals were signed during the recently-concluded GEC, which was held at the King Abdulaziz International Conference Center in Riyadh. The agreement was signed by Monsha’at’s Deputy Governor of Funding Mohammed AlMalki, SNB’s Head of Business Banking Mohammed AlZaid and SNB’s Head of CSR Ms. Basma AlJohari.

Through the Franchise Financing Agreement, which aims to qualify and facilitate SMEs’ access to markets and investment opportunities with financing amounts of up to SR1 billion, the cooperation agreements will support SMEs and entrepreneurs in the Kingdom by facilitating their access to innovative financing solutions and enabling them to benefit from banking services.

The second agreement, the Innovation Funding Program Agreement of the Bank’s corporate responsibility arm, seeks to provide non-refundable financial assistance to enable entrepreneurs and early-stage emerging enterprises to kick-start their business activities, stimulate innovation for quality projects, and fill financing gaps in emerging projects during their innovation stage in accordance with the program’s policies and procedures.

According to AlZaid, these agreements will contribute to supporting the SMEs and entrepreneurship sector, and they also embody the Bank’s partnership in developing the national economy to achieve sustainable growth.

He stated that SNB, as a supportive partner of this sector in the Kingdom, has the largest share in financing SMEs in the franchise field, with total financing that exceeded SR253 million by the end of 2021.

AlJowhari confirmed that SNB is a permanent partner in empowering the SMEs and entrepreneurship sector in order to boost the performance of these establishments’ owners and enable them to expand their activities.

She explained that these agreements stem from the importance the Bank attaches to this sector, as it is one of the most important drivers of economic growth in line with the Saudi Vision 2030.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Syria to Reconnect to Global Economy After 14 Years of Isolation
Saudi Arabia Faces Uncertainty Over Succession After Mohammed bin Salman
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Majority of French Voters View Macron's Presidency as a Failure
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
Iran Warns Europe Against Politicizing UN Nuclear Report
Businessman Mauled by Lion at Luxury Namibian Lodge
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
Head of Gaza Aid Group Resigns Amid Humanitarian Concerns
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
×