Ahmed Al-Jabrin, the official spokesperson for the Credit and Savings Bank, denied that the bank intends to raise the maximum salary limit for loan applicants above 10,000 riyals or to increase the amount of social loans (for marriage, family, and home renovation).
He told Al-Madina that the bank has been working for nearly two years to develop a comprehensive national strategy to activate the savings program. This has involved reviewing international experiences, visiting global think tanks, and collaborating with the World Bank to study best practices that can be applied to the Kingdom’s environment. The strategic directions in this regard have been finalized, and the bank will focus on two areas: first, promoting a culture of saving, and second, creating savings opportunities that are low-risk and offer attractive returns.
Al-Jabrin noted that the bank is working diligently and intensively to play an active role in serving the small and medium-sized enterprise (SME) sector in the Kingdom. Over the past three years, the bank has launched the Masarat program to provide financial support to small and start-up enterprises, and also established a national center to provide non-financial support services to these projects, such as training, capacity building, mentoring, and networking with major entities, as well as streamlining procedures and promoting a culture of entrepreneurship among young people. The bank will also launch new programs—both financial and non-financial—as part of its announcement of the new strategy it is currently developing. God willing, these initiatives will significantly and effectively advance the sector, benefiting both individual recipients and the national economy as a whole.