The Saudi Credit and Savings Bank plans to expand its financing scope by including support and financing for existing projects as one of the productive sectors it funds for small and emerging businesses, starting next June, The bank’s General Manager, Ibrahim Al-Hunaishal, said in a press statement on the occasion of the Business Forum for Young Men and Women of Medina that the bank seeks to contribute to the diversification of growth sources as part of the “Masarat,” which focuses on supporting and financing small and startup businesses. The bank’s funding tracks include Excellence, Startups, Innovation, Transportation, and Microenterprises.

He explained that details will be announced within the next two weeks, noting that last year the bank disbursed 310 loans with a total value of 18 billion riyals, and that since its inception, the number of loans has reached 2 million, with a total value of 73 billion riyals.

The Credit Bank plays a vital role in driving economic growth and achieving balance in the diversification and expansion of services and goods,serving as a key driver in providing significant economic inputs, creating job opportunities, and supporting and encouraging the growth of the small and startup business sector in the Kingdom.