عربي
Contact Us
  • Phone: 0112917676 Ext 112
  • Fax: 0112910891
  • P.O.Box: 395 Riyadh 11411
More
Site Color
Thursday 21/10/2021
e-Services
  • New EServices soon
Kafalah program signs a brand-new cooperation agreement with financing companies Saudi ORIX and Gulf Finance

03/09/2018

The Small and Medium Enterprises Financing Guarantee Program “Kafalah" recently signed a brand-new cooperation agreement with Saudi ORIX Leasing Company and Gulf Finance Company. Thus, the program will begin providing its services to non-bank financing companies licensed by the Saudi Arabian Monetary Agency, and is soon expected to expand the provision of these services to additional companies in the coming period. This reflects the efforts of all parties, especially the Saudi Arabian Monetary Agency, to facilitate this cooperation and to continue expanding and developing means of support for the development of the SME sector in the Kingdom of Saudi Arabia, in line with the aspirations and requirements of the Saudi Vision 2030. The newly adopted agreement is also considered as one of the positive outcomes of the private sector stimulus plan with the Kafalah program, which was launched by the Local Content and Private Sector Development Unit, as it is to raise the capital of the Kafalah program.

The agreement was signed on behalf of Kafalah Program by His Excellency Mr. Homam Hashem, the Director General of Kafalah, on behalf of ORIX, its CEO / Badr bin Ibrahim Al-Swailem, and on the Gulf Finance Company, its CEO / Atef bin Mohammed Al-Athri.

On this occasion, the Director General of the Kafalah Program expressed his happiness with this new cooperation with financing companies and explained that these agreements will play an important role in revitalizing the SME sector and expanding the financing options, whose objectives are based on supporting a larger segment of the owners of these enterprises and diversifying the means of support. He stressed his keenness on the continuity of the program by updating cooperation agreements with success partners to provide the best types of support for entrepreneurship in line with the new economic trends in the Kingdom and to keep pace with the steady growth in the number of applications submitted by owners of SME to obtain financing under the guarantee of the program.

On their part, both - Al-Suwailem, CEO of ORIX, and Al-Azri, CEO of Gulf Finance Company, said that these agreements will be in line with the goals of all parties and will effectively contribute to supporting the SME sector and financing enterprises operating in the sectors targeted by the Saudi Vision 2030.​


Last Update : 2/11/2021 5:42 PM