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Wednesday 10/08/2022
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Program Concept

​​Program Launching and Objectives

The Small and Medium Enterprises Financing Guarantee Program by Kafalah was founded under His Excellency the Minister of Finance's decision number (1166) dated 04/05/1425 AH, in a view to overcome any obstacle in financing SME that are economically viable but that do not have the ability to provide the required guarantees to the financing entities.

The program aims at helping the SME in obtaining the necessary Islamic financing to develop and expand their activities, and at encouraging the financial institutions to deal with the SME sector, in addition to attracting a new group of owners of SME that have not previously dealt with financing entities. Thus, the goal of the program is to be achieved in developing the SME sector in a view to activate its important role in the national economy through its contribution to providing new job opportunities, developing provinces that are least active economically.

Program Vision

The ultimate vision is turning Kafalah program into the pioneer in the field of financing risk guarantee in the Kingdom and one of the largest financing risk guarantee programs in the Middle East region.

Program Mission

The program aims at f​acilitating for the SME owners the obtention of the necessary financing from the commercial banks and various financing entities regardless of the conventional guarantees standard, and providing products and services of quality and efficiency proportionate to the needs of the small and medium enterprises operating in all sectors and in various regions in the kingdom.​

Last Update : 2/9/2021 1:40 PM
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