Appointment of Mr. Ibrahim Al-Rashed as Chairman of the Board of Directors of “ Kafalah Program ”

The Board of Directors of the SME Bank has issued a resolution appointing His Excellency Mr. Ibrahim bin Hamad Al-Rashed as Chairman of the Board of Directors of "Kafalah".

 

This strategic move reflects the Bank’s commitment to strengthening partnerships with entities that support enterprises and to developing tailored financing tools for this vital sector, by leveraging Al-Rashed’s extensive expertise in finance, economic development, and digital transformation.

 

For his part, Mr. Ibrahim bin Hamad Al-Rashed expressed his sincere gratitude to the Board of Directors of the SME Bank for their trust, emphasizing that the program serves as a key financing arm in empowering SMEs. He affirmed his commitment to working with the team to further develop the role of 'Kafalah' in a way that enhances the economic impact and financial sustainability of this vital sector, in alignment with the leadership’s vision and the goals of Saudi Vision 2030.

 

Al-Rashed stressed that this trust serves as a strong motivation to continue strengthening the partnership and collaboration between the SME Bank and the 'Kafalah' program, as well as to develop financing tools that will enable this vital sector to grow and achieve sustainability.