A joint cooperation agreement between the Social Development Bank and the Cooperative Society

Signing a joint cooperation agreement between the Social Development Bank and the Multi-Purpose Cooperative Society in Medina

The Social Development Bank signed a cooperation agreement on Sunday, Rajab 12, 1438 AH, with the Multi-Purpose Cooperative Society in Medina to support, sponsor and finance micro-enterprises and productive families.
The agreement was signed by His Excellency the Director General of the Bank, Dr. Abdullah bin Abdul Rahman Al Namlah, and on behalf of the Association, the Chairman of the Board of Directors, His Excellency Engineer Hamoud bin Alitha Al Harbi.
This agreement comes from the Social Development Bank’s keenness to support, sponsor, and finance micro-enterprises, productive family projects, and handicrafts and handicrafts in the Kingdom of Saudi Arabia, and touches on what they need in terms of support, financing, and care services. In addition, the multi-purpose cooperative society has development programs, and is considered one of the local experiences. Developable and to consolidate the culture of self-employment and self-reliance in providing self-employment opportunities, provided that the agreement’s services cover the target groups of citizens who meet the conditions for benefiting within the geographical scope of the Medina region, and it was agreed to name it “Bidi.”
The provisions of this agreement are valid for a period of three years from the date of its signing, as the bank allocated a financing portfolio to the association worth (4,000,000) riyals.