The Kafalah has issued <a style=“color: #993300;” href="https://amlak. Enterprise Finance Program has provided financing guarantees worth nearly 11 billion riyals until the end of December 2022, through which 6,350 small, medium and micro enterprises received more than 14 billion riyals in financing.

The program confirmed in a statement that it has provided more than 14 billion riyals. <In a statement today, the program emphasized the effective role played by Kafalah to contribute to achieving the aspirations of <a style="color: #993300;" href="https://www.vision2030.gov., and the increased growth in the demand for guarantees is attributed to the continued activation of the initiatives that were allocated to support SMEs during the Corona pandemic, in addition to increasing the effectiveness of the performance of the “Kafalah” program based on the distinguished local cadres and by providing a package of supportive products for the sectors. of products supporting sectors that aim to support the Kingdom's 2030 vision, providing support to businesswomen, whose benefit from the program's services grew by 30% compared to the previous year21%, in addition to supporting the promising regions of the Kingdom, which resulted in an estimated growth of 5% compared to the previous year.

The cooperation with various government agencies contributed to the continuity of initiatives to support small and medium enterprises to face the Corona pandemic, which was an important part of activating the role of "Kafalah" to support the sector during 2022, and one of the most important initiatives that received wide demand was the "Guaranteed Finance" initiative from the Saudi Central Bank in cooperation with "Kafalah", which contributed to supporting more than 3,200 small, medium and micro enterprises that issued financing guarantees worth 15.2 billion riyals.

More than 3,200 small, medium and micro enterprises have received financing guarantees worth 15.2 billion riyals.

Kafalah management approved 7,192 financing requests during 2022 compared to 6,345 during the same period of the previous year, an increase of 13%.

Kafalah has also been keen to support 3,200 small, medium and micro enterprises (SMEs).

<a style=“color: #993300;” href=“https://amlak.net.Kafalah” to direct support to enterprises operating in various regions of the Kingdom, where the growth of enterprises in promising regions, including the Northern Borders reached 41%, Medina 39% and Tabuk 37%, as the “Kafalah” financing guarantee program aims to accelerate economic growth in promising regions, create new and diversified opportunities, create jobs and jobs for national cadres in those regions and exploit the comparative advantages enjoyed by each region, which increases the competitiveness of the Kingdom.

The program aims to accelerate the pace of economic growth in promising regions, create new and diverse opportunities and jobs for national cadres in those regions and exploit the comparative advantages enjoyed by each region, which increases the Kingdom's competitive capabilities. It is noteworthy that the number of financing requests received for the “Kafalah” financing guarantee program from all regions of the Kingdom in 2022 increased by 4 percent compared to the same period of the previous year for the main regions (Riyadh, Eastern Province and Makkah), while the promising regions increased to 14 percent for the same period.

The number of financing requests increased to 14 percent for the same period. “Kafalah" explained that it pays great attention to ensuring the financing of businesswomen by activating their leadership role in the labor market and the national economy, by stimulating and supporting qualified businesswomen to manage commercial activities through the preferential benefits provided by the program in its product package and the specialized training programs it organizes, while the figures of the "Kafalah" financing guarantee program indicated that the number of beneficiary establishments during the pandemic for women entrepreneurs in 2022 increased by 30 percent compared to the previous year 2021.

Financing guarantee program "Kafalah" indicated an increase in the number of beneficiaries during the pandemic for women entrepreneurs for the year 2022 by about 30 percent compared to the previous year 2021.

For its part, through a recent study in cooperation with King Fahd University of Petroleum and Minerals, the effective role of the "Kafalah” financing guarantee program on the growth of establishments and the growth of the total number of employees, by an average of 20 percent after 6 months after obtaining the guaranteed financing, due to the increase in the employment of Saudi males by 7 percent and Saudi females by 9 percent after a year after the establishment obtained a guarantee guarantee, and it is noticeable that the impact increases after two years to 17 percent.

According to the data, the effective role of the “Kafalah” financing guarantee program on the growth of establishments and the growth of the total number of employees in them. <According to data released by Saudi Central Bank, the results show that the contribution of the Kafala program in supporting financing for SMEs increased from 4.9 percent during the second quarter of 2018 to 13.4 percent at the end of the third quarter of 2022 of the total financing provided to the SME sector with a total of 27.6 billion riyals.