Mr. Abdulrahman bin Mohammed bin Mansour, CEO of the SME Bank, conveyed his heartfelt congratulations and best wishes to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman, Crown Prince and Prime Minister - may Allah protect them - in celebration of the 94th National Day marking the unification of the Kingdom.
In his remarks during this significant occasion, he emphasized that this day serves as a reminder of our beloved nation's remarkable achievements across various levels and sectors. These accomplishments reflect the strength of will of our country, its leadership, and its citizens. He also highlighted that this day acts as a motivation to persist in enhancing Saudi Arabia’s standing by diligently working towards realizing the objectives outlined in Saudi Vision 2030.
Bin Mansour stated that the small and medium enterprises (SMEs) sector plays a significant role in the remarkable advancements currently observed in the Kingdom. This sector has gained substantial support and attention from our wise leadership—may Allah grant it strength. The generous directives from our leadership—may Allah safeguard it—have underscored the importance of bolstering these establishments to enhance their contributions to the gross domestic product (GDP) and to foster job creation for the youth of the Kingdom.
Bin Mansour highlighted that the Board of Directors of the National Development Fund approved the establishment of the bank in 2020, and its operations commenced on December 4, 2022. This marked a significant beginning in supporting the small and medium enterprises sector, with over 10 billion riyals allocated to bolster this crucial area.
He further noted that since the launch of the indirect lending initiative in 2018 until the end of 2023, financing through this program has surpassed 3 billion riyals, benefiting 2,889 recipients across all regions of the Kingdom. Additionally, financing provided through the SME Bank’s programs totaled 755 million riyals, aiding 675 beneficiaries by December 2023, also reaching every region within the Kingdom.
He stated that these accomplishments stem from the ambitious initiatives outlined in Saudi Vision 2030, which have been implemented in collaboration with relevant government agencies and through successful partnerships with local banks and financial institutions. These collective efforts have played a significant role in generating new job opportunities, fostering innovation and entrepreneurship, thereby positively impacting the development of the national economy and enhancing its sustainability.
In concluding his speech, he prayed for Allah to continue bestowing blessings of security, safety, prosperity, and stability upon the Kingdom, under the wise leadership of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and His Crown Prince—may Allah protect them.
It is noteworthy that the SME Bank was established following a decision of the Cabinet on 04/07/1442 AH (16/02/2021 AD), with its system being formally issued by royal decree on 08/04/1444 AH (02/11/2022 AD). This bank operates as one of the development funds and banks associated with the National Development Fund.
