Resuming the application for an effective self-employment product in its second stage

The Social Development Bank explained that the second phase of applications for the Nafath product for self-employment has been opened for citizens who are able to work and wish to increase their monthly incomes, as the Nafath product provides cash financing of up to 60 thousand riyals for those with skills and specific, creative, and craftsmanship businesses, as well as car financing for those wishing to work in... The field of vehicle guidance, with funding amounting to 150 thousand riyals.

The bank confirmed that it seeks, through the Nafath product, to achieve a number of goals, such as diversifying opportunities for job seekers, increasing their monthly incomes, and educating society about the concept of self-employment and the opportunities available in the market.

Obtaining product financing has been linked to the self-employment certificate to ensure that the beneficiary obtains a number of benefits, such as the opportunity to open a (commercial) bank account, and the possibility of benefiting from the discounts and offers announced on the self-employment portal.

It is worth noting that during the year 2020, the bank approved financing for more than (60) thousand beneficiaries with a value exceeding (3) billion riyals, which varied between financing those with skills, specific, creative and crafts work, and shared transportation who work through vehicle guidance systems.