Bank Al Jazira has entered into an enhanced agreement with the SME Finance Kafalah Program to encourage and stimulate an increase in the coverage of guarantees in accordance with Sharia financing formulas due to the importance of this sector and its economic and social impact.

Hammam Hashim, Director General of the Kafalah program, said that the agreement contributes to achieving the Kingdom's Vision 2030 in order to keep pace with the steady growth in the number of requests submitted by the owners of the concerned enterprises to obtain financing under the program's sponsorship.

For his part, the CEO of Al Jazira Bank said For his part, Bank Al Jazira CEO and Managing Director Nabil bin Dawood Al Hoshan said that the updated agreement contributes to achieving the ambitious goals related to the SME sector and financing enterprises targeted by Vision 2030 as well as in promising regions, as the bank was keen to provide facilities and harness the necessary capabilities to enhance and expand the constructive partnership with the Kafalah program.

Bank Al Jazira is keen to provide facilities and harness the necessary capabilities to enhance and expand the constructive partnership with the Kafalah program. The agreement comes in its new and updated version with a number of effective advantages in the development of these enterprises, raising the lending rate for this segment and expanding the circle of beneficiaries of SMEs to include tourism sector activities and emerging enterprises, with additional advantages for promising regions and businesswomen.

Bank is keen to provide facilities and capabilities to enhance the constructive partnership with the Kafalah program and expand its scope.