With the aim of providing non-financial services... The Social Development Bank signs a memorandum of understanding with the Bonyan Charity Association

Under the patronage of His Royal Highness Prince Faisal bin Bandar bin Abdulaziz, Governor of the Riyadh Region, and within the activities of the Integration Forum in the Development of Slums, the Social Development Bank signed a memorandum of understanding for the purpose of providing non-financial services with the Bonyan Charitable Society on Tuesday, Shaaban 6, 1438 AH, where the agreement was signed by On the side of the bank, Mr. Saeed Al-Zahrani, Assistant Director General of the Bank for the Social Loans Sector, and on the side of the association, the chairperson of the association’s board of directors, Ms. Nada Al-Bawardi.

Under the patronage of His Royal Highness Prince Faisal bin Bandar bin Abdulaziz, Governor of the Riyadh Region, and within the activities of the Integration Forum in the Development of Slums, the Social Development Bank signed a memorandum of understanding for the purpose of providing non-financial services with the Bonyan Charity Association on Tuesday, Shaaban 6, 1438 AH. The agreement was signed on the part of the bank by Mr. Saeed Al-Zahrani, Assistant Director General of the Bank for the Social Loans Sector, and on the part of the association by the chair of the association’s board of directors, Ms. Nada Al-Bawardi.

The two parties agreed to cooperate in several aspects, including awareness of self-employment, which includes providing a number of activities to raise awareness of self-employment and financial management, such as your saving activity, a gateway to your investment, and establishing a number of training programs for beneficiaries and workers of the Bonyan Association. According to need in a number of programs, such as establishing businesses, developing identity (brand), packaging, and pricing products, in addition to developing projects and building business models for the purposes of financial sustainability, and contributing to market access to enable projects adopted by the association through the bank’s various marketing programs, and measuring impact. This is done by the association preparing periodic reports on projects and beneficiaries and submitting them to the bank (measuring social and economic impact)

The signing of this memorandum comes within one of the most important goals of the Social Development Bank in providing a system of non-financial services that enhance and support the success of the financial services provided by the bank to the target groups.