Bank "AlBilad" Signs Development Agreement for Kafalah Program to Fund Small- and Medium-Sized Enterprises
Bank AlBilad signed development agreement for Kafalah Program to fund small- and medium-sized enterprises aiming at encouraging and stimulating funding agencies to fund larger portion of beneficiaries owning small- and medium-sized enterprises though increasing bails coverage rates as per rightful finding formulas due to the importance of this department and how far it influences economic and social life.
Mr. Abdel Aziz AlAnizan, the executive manager of Bank AlBilad said: "development agreement for Kafalah Program contributes to achieving aspirational objectives concerned with small- and medium-sized enterprises departments and funding organizations working in sectors targeted by '2030 vision' in addition to promising zones. These objectives reflect efforts to implement Bank AlBilad strategy that provides various finding options for our valued clients that will contribute to funding micro-, small-, and medium-sized enterprises to participate in economic and development activities."
Mr. Hamam Hashim, general manager of Kafalah Program added: "it is a pleasure to continue cooperation between Bank AlBilad and Kafalah Program and strengthen the relationship between them. We also make sure that we promote and activate this cooperation due to its positive effect contributing to kingdom view of 2030 and increase local lending rates for small- and medium-sized enterprises to 20% by 2030. This contributes to keeping up with exponential growth of small- and medium-sized enterprises owners applications to have Kafalah Program fund. This agreement is one of department motivation plans for private sector in conjunction with Kafalah Program launched by Local Content & Private Sector Development Unit represented by Kafalah Program capital to widen small- and medium-sized enterprises empowerment."
It is also noteworthy that Bank AlBilad offers his services for small- and medium-sized enterprises through various specialized centers exceeding 10 centers in (Riyadh, Jeddah, Dammam, Al-Ahsa, Abha, Mekkah, Al-Qassim, Ha'il, Jubail, and Khafji) offering help via Bank AlBilad for business line 800123777 and banking services e-mail SME@bankalbilad.com. Also, the bank offers all services via a wide network of branches all over KSA exceeding 150 branches and 5 sales centers in (Riyadh, Jeddah, Dhahran, Tabuk, and Al-Kharj) working until 9 PM, branch of Prince Mohammad bin Abdulaziz International Airport in Medina working 24/7, and more than 179 money transfer service centers "Enjaz" supported by ATMs exceeding 850 machines, in addition to latest integrated electronic services 24/7 including www.bankalbilad.com and Bank Al Bilad application for smart phones. Bank AlBilad enables communication service 24/7 with clients using Bank AlBilad line 920001002 or via social media including twitter, Facebook, Instagram, Linkedin and Snapchat to offer services to Bank AlBilad valued clients and fulfill all banking needs.
