With the participation of 12 parties, the Permanent Committee for Productive Families holds its first meeting under the chairmanship of the Social Development Bank

The work of the Permanent Committee for Productive Families began, headed by His Excellency the Director General of the Social Development Bank and the membership of a number of relevant government agencies, and held its first meeting in the city of Riyadh.

In this regard, the Director General of the Bank and Chairman of the Committee, Mr. Ibrahim bin Hamad Al-Rashed, stated that the committee is composed of many relevant government agencies due to the importance of unifying efforts and participating in work, to distribute roles, each in its field, and this will be in the interest of this modern sector, which the state attaches importance to. big .

Al-Rashed added: The responsibility on the bank has become doubled, after the Council of Ministers approved the regulatory regulations for productive families and assigned the management of this file to the bank, indicating that the bank will not limit its course to financing, but rather will work with partners in other government sectors to provide and manage an integrated system for organizing and supporting. Empowering the sector of productive families and micro-enterprises in the Kingdom, whether in the legislative and regulatory aspects, monitoring, improvement and development, as well as financial and non-financial support, in addition to marketing through platforms and outlets for sale .
Al-Rashed confirms that the formed committee will redouble its efforts to develop and empower this sector to be an influential development tributary to the national economy .
Committee Chairman Al-Rashed expressed his thanks to the Board of Directors of the Social Development Bank for its approval to allocate an amount of (4) billion riyals from the bank’s capital to provide soft financing for productive family projects in addition to what the state has allocated for this program .
The first meeting of the Permanent Committee for Productive Families reviewed the efforts of the Social Development Bank during the last period since the issuance of the Council of Ministers’ approval, and the Bank formed an internal committee to begin preparing the procedural guide for the regulatory regulations, as it held many meetings in several regions of the Kingdom, in partnership with representatives of all sectors. relevant parties to take their views and perceptions. The bank was able to complete the draft of the procedural guide and review it with the members of the Permanent Committee .

During the meeting, the project of the unified national electronic platform that the bank worked on was reviewed, which will be allocated to productive families, manage the processes of providing financial and non-financial services through it, and allow the display and marketing of families’ products in it, in addition to many services that facilitate the journey of productive families’ projects and trade, including strengthening food chains. Supply and value. The platform will also enable the collection of a database of productive families in the Kingdom and their impact and contribution to the growth of the local economy, which will help in developing this sector .

It is worth noting that the committee consists of several sectors, including the Ministry of Labor and Social Development, the Ministry of Municipal and Rural Affairs, the Ministry of Energy, Industry and Mineral Resources, the Ministry of Trade and Investment, the Ministry of Culture, the Ministry of Information, the Ministry of Economy and Planning, the Ministry of Education, the Ministry of Environment, Water and Agriculture, and the General Authority. Tourism and National Heritage, the Food and Drug General Authority, and the Council of Saudi Chambers .

It is noteworthy that during the last period, the bank financed more than 45 thousand productive families and micro-enterprises with a total value of approximately 600 million riyals .
It is worth noting that the bank, since its founding in 1391 AH until now, has benefited more than 2.6 million male and female citizens from the bank’s various services and products, and the volume of lending has exceeded 105 billion Saudi riyals in both social financing and financing emerging and small projects. The bank is considered the gateway to economic empowerment with the widest reach at the global level. Kingdom, and those wishing to benefit from the bank’s products and services can visit the website: www.sdb.gov.sa