The Small and Medium Enterprises Bank Signs an Agreement with Tatweer Educational Technologies to Support Financing for Educational Enterprises

 

At the Education Investment Forum held in Riyadh, SME Bank signed a cooperation agreement with Tatweer Educational Technologies (TETCO) to enhance financing for SME in the education sector.

 

The agreement was signed by Mr. Abdulrahman bin Mohammed bin Mansour, the bank’s acting CEO, and Eng. Fahad bin Mishaan Al-Solaie, CEO of TETCO. It aims to facilitate access to financial solutions for small and medium-sized educational enterprises by integrating the bank’s Financing Gateway with TETCO’s “Madaris” platform.

 

This technological integration enables educational enterprises to submit financing requests quickly and easily, improving the user experience and streamlining the financing process. The collaboration also includes joint awareness and marketing campaigns to highlight available financing opportunities, as well as specialized workshops aimed at educational sector professionals to introduce them to available financing solutions.

 

Mr. Abdulrahman bin Mohammed bin Mansour emphasized that this agreement represents a significant step in supporting the education sector. He explained that the technological integration between the Financing Gateway and the "Madaris" platform helps accelerate financing procedures and supports the sustainability of educational institutions by providing more efficient and flexible financial solutions. This strengthens the sector’s role in economic development and aligns with Saudi Vision 2030’s goal of fostering a sustainable and advanced educational ecosystem.

 

For his part, Eng. Fahad bin Mishaan Al-Solaie stated that the collaboration with the bank reflects TETCO’s commitment to empowering educational institutions through innovative technological solutions. He noted that the digital integration between the two platforms enhances the efficiency of financing processes and enables schools and educational institutions to access funding with greater flexibility, contributing to the growth and sustainability of the sector.

 

It is worth noting that SME Bank was established under the resolution of the Saudi Council of Ministers, No. (376), dated 4/7/1442 AH (corresponding to 16/2/2021), as one of the developmental funds and banks under the National Development Fund. The bank aims to increase financing for the SME sector, bridge the financing gap, enhance the contributions of financial institutions in providing innovative financial solutions to achieve financial stability for this vital sector, and support its role as a key driver of economic development in the Kingdom.