{"id":91313,"date":"2024-11-07T00:00:00","date_gmt":"2024-11-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/07\/monshaat-secures-sar-bns-in-sme-financing-at-biban-24\/"},"modified":"2024-11-07T00:00:00","modified_gmt":"2024-11-07T00:00:00","slug":"monshaat-secures-sar-bns-in-sme-financing-at-biban-24","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/07\/monshaat-secures-sar-bns-in-sme-financing-at-biban-24\/","title":{"rendered":"Monsha\u2019at secures SAR bns in SME financing at Biban 24"},"content":{"rendered":"

The General Authority for Small and Medium Enterprises (Monsha\u2019at) signed a combined<\/strong> SAR 18.3 bn-worth of financing agreements with Saudi banks<\/strong> to drive capital access for local SMEs on the first day of the Biban24<\/a>Forum<\/a>, the authority said in a statement<\/a>. The event \u2014 which kicked off on Tuesday \u2014 will run until this Saturday at the Riyadh Front Exhibition & Conference Center. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

The breakdown: <\/strong>The agreements include a SAR 3 bn portfolio with Riyad Bank, along with SAR 2.9 bn in commitments from Al Rajhi Bank, SAR 2.85 bn from Al Bilad Bank, SAR 800 mn from Alinma Bank, and SAR 700 mn from Saudi Fransi. The Saudi National Bank announced a financing portfolio worth SAR 3 bn, the First Saudi Bank unveiled a portfolio valued at SAR 1 bn, and the Arab National Bank announced a financing portfolio of SAR 1.1 bn, along with the launch of an e-commerce financing product worth SAR 500 mn.<\/p>\n

ALSO FROM BIBAN- <\/strong>The SME Bank announced a SAR 1 bn allocation<\/a> to finance SMEs in 4Q, alongside a dedicated financing program for SMEs in the education sector. Kafalah targets earmarking SAR 200 bn in funding guarantees for local SMEs, Kafalah CEO Homam Hashem told Mubasher<\/a> on the sidelines of the forum.<\/p>\n","protected":false},"excerpt":{"rendered":"

The agreements include a SAR 3 bn SME financing portfolio with Riyad Bank<\/p>\n","protected":false},"author":1,"featured_media":91314,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2590],"tags":[3379,57,10,3378],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-biban24","tag-debt-watch","tag-enterpriseam-ksa","tag-the-general-authority-for-small-and-medium-enterprises-monshaat","wpautop","entry"],"acf":{"mongo_id":"ea2e55b5-3c49-463f-8280-45ed78b5c0d1","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/623.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Monsha\u2019at secures SAR bns in SME financing at Biban 24","related_issue":[91308],"teaser":"The agreements include a SAR 3 bn SME financing portfolio with Riyad Bank","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.3a14ee84-50ef-497b-89e3-b46b120f6282.mp3"},"yoast_head":"\nMonsha\u2019at secures SAR bns in SME financing at Biban 24 - 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