The Social Development Bank signs a cooperation agreement with “Careem” to empower youth

The Social Development Bank signed a joint cooperation agreement with Careem Company, the company specialized in providing transportation services via smart applications, today, Monday 05/26/1439 AH, at the bank’s headquarters in Riyadh. The agreement was signed by the bank’s General Manager, Dr. Abdullah bin Abdulrahman Al-Namlah, and by Careem Company’s founding partner and CEO, Dr. Abdullah bin Nadim Elias, in the presence of a number of officials from both sides. The joint cooperation agreement between the Social Development Bank and Careem Company aims to provide a package of financial and non-financial services to support the youth and beneficiaries of the nation and enable them to practice self-employment and self-employment by taking advantage of the financing options in the taxi and transportation path at the bank, provided that the company builds capabilities. With young people, they are trained, qualified, and followed up on their performance during their funding period. It is worth noting that this agreement contributes to the bank’s direction of building strategic partnerships with multiple sectors in the Kingdom for the purposes of empowering young people and qualifying them to practice self-employment and benefit from opportunities in promising markets such as delivery and logistics services, which are expected to grow significantly. Young people wishing to benefit from financing opportunities in the taxi and transportation sector can apply directly through the bank’s website www.sdb.gov.sa to obtain financing worth up to 200 thousand riyals. It is worth noting that Careem is a leading Saudi company that was launched in 2012, and over the past five years, the company has witnessed growth exceeding 30% per month. It is currently present in more than 70 cities in the Kingdom, and more than 120,000 Saudi captains benefit from the platform.