In order to stimulate the non-profit sector... the bank signs with the King Abdulaziz Society in Tabuk and the Al-Bir Society in Al-Rass

The Social Development Bank signed a joint cooperation agreement approving a financing portfolio with the King Abdulaziz Association in Tabuk and the Al-Bir Charity Association in Al-Rass on Wednesday, Ramadan 15, 1439 AH, corresponding to May 30, 2018 AD, at the Thammarat Event Tent headquarters at the Riyadh International Convention and Exhibition Center.

The Social Development Bank signed a joint cooperation agreement approving a financing portfolio with the King Abdulaziz Association in Tabuk and the Al-Bir Charity Association in Al-Rass on Wednesday, Ramadan 15, 1439 AH, corresponding to May 30, 2018 AD, at the Thammarat Event Tent headquarters at the Riyadh International Convention and Exhibition Center .

The agreement was signed by His Excellency the Director General of the Social Development Bank, Mr. Ibrahim bin Hamad Al-Rashed, and on the part of the King Abdulaziz Society in Tabuk, the Secretary-General, Dr. Abdullah bin Ahmed Al-Sharif, and on the part of the Al-Bir Charitable Society in Al-Rass, Chairman of the Board of Directors, Mr. Ibrahim bin Saleh Al-Muzaini, and in the presence of a number of officials from both sides .

This agreement comes from the Social Development Bank’s keenness to stimulate the non-profit sector to achieve Vision 2030, support, sponsor and finance micro-enterprises, productive family projects and handicrafts, and meet all the needs of the owners of these projects in terms of support, financing and care services .

In addition, the King Abdulaziz Society in Tabuk and the Al-Bir Charitable Society in Al-Rass have a number of development programs and provide services to a large segment of the groups targeted by the bank. They are considered local experiences that can be developed and to consolidate the culture of self-employment and self-reliance in providing self-employment opportunities by providing multiple services, including lending. Microfinance and care, whereby the bank has allocated under this agreement a financing portfolio of (2,000,000) riyals, valid for a period of three years .