The Social Development Bank launches the “Kanf” financing product for divorced women and widows

The Social Development Bank launched the “KNF” product. With a financing ceiling of up to 30 thousand riyals and without interest or fees, it targets the most needy groups of widows and divorced women by granting them financing to help them bear the costs and burdens of life. This was stated by the Bank’s General Manager of Partnerships and Marketing, Ms. Nour Al-Abdulkarim, stressing that the launch of this product comes within the sponsorship and support of the Custodian of the Two Holy Mosques and his trustworthy Crown Prince to ensure that women are empowered with financial support to overcome immediate difficulties and develop their standard of living, so that they can be part of a vibrant and productive society, which contributes to Improving the quality of life for these target groups, which helps in achieving their social well-being. Al-Abdulkarim showed that the “Knaf” product The financing takes into account the need of divorced and widowed women for support, as they will currently be able to obtain financing through the “Kanf” product. Without requiring the presence of children and does not require submitting a support instrument. Al-Abdulkarim explains that the “Kanf” product It is available through the bank’s website, where women have the right to apply after meeting the conditions and regulations for family financing, explaining that financing is provided without any interest and up to 30 thousand riyals, in easy installments, and with a repayment period of up to 60 months. The General Manager of Partnerships and Marketing confirms that the bank is constantly keen to review its terms and conditions, and periodically studies the possibility of developing appropriate, value-added products that serve the target segment of citizens, so that they are compatible with the needs of all its target groups without exception. Since its founding in 1391 AH until now, 2.6 million male and female citizens have benefited from the bank’s various services and products, and the volume of financing has exceeded 105 billion Saudi riyals in social and project financing. It is worth noting that the Social Development Bank is the most accessible economic empowerment portal in the Kingdom, and those wishing to benefit from the bank’s products and services can visit the website: ‏www.sdb.gov.sa