Al-Benyan Chairman of the Board of Directors of the SMEs Bank

Riyadh, Saudi Arabia, February 16, 2023

His Royal Highness Prince Mohammed bin Salman, Crown Prince, Prime Minister and Chairman of the Board of Directors of the National Development Fund, "may God protect him" has appointed His Excellency Mr. Yousef bin Abdullah Al-Benyan as Chairman of the Board of Directors of the Small and Medium Enterprises Bank.

On his part, His Excellency Mr. Yousef Al-Bunyan expressed his sincere thanks and appreciation to His Highness the Crown Prince and Prime Minister for this generous confidence, appreciating His Highness's support for the small and medium enterprises sector to achieve financial stability for this vital and important sector to be a fundamental pillar for economic development in the Kingdom and an enabler for achieving its Vision 2030, wishing for God blessing and guidence in his new role. 
Al-Bunyan also thanked his predecessor, His Excellency Mr. Muhammad bin Mazyad Al-Tuwaijri, for his support and efforts during the period of establishing the bank.

Al-Benyan is currently the Minister of Education, and he previously held several positions, including Vice-Chairman and CEO of the Board of Directors of the Saudi Basic Industries Corporation (SABIC), Chief Financial Officer, as well as Vice-President of the Strategic Business Unit for Chemicals, in addition to his membership in many boards of directors in several companies, bodies, and committees.
The Small and Medium Enterprises Bank was established by Cabinet Resolution No. 376, dated 04/07/1442 AH, as one of the development funds and banks affiliated with the National Development Fund, which aims to increase financing provided to the small and medium enterprises sector, bridge the financing gap, and enhance the contributions of financial institutions in providing Innovative financing solutions, and achieving financial stability for this vital sector to be a mainstay for economic development in the Kingdom of Saudi Arabia and an enabler to achieve Vision 2030.