who we
are

The beginning was in 1971 AD, when a royal decision was issued to establish the bank under the name “Saving and Credit Bank” with a capital of 5 million riyals to provide social loans. In 1983, the bank was assigned a professional loan program, and in 1993 the bank’s capital was increased to one billion riyals, and in 2001 the program was included. The Custodian of the Two Holy Mosques financed taxis to the bank, and in 2006 the bank’s capital was raised to 6 billion riyals, and a year later in 2007 the name was changed to the Saudi Credit and Savings Bank with the addition of three tasks: “Providing loans to small and emerging enterprises - performing the role of complementary coordinator for caring for the sector.” Small and emerging enterprises - working to encourage thrift and savings. In 2008, the bank received a royal grant worth 10 billion, and the support continued to raise the bank’s capital to reach 46 billion riyals in 2013 with the expansion of lending and development support. In 2016, the Council of Ministers issued a decision to change the name of the bank. To the Social Development Bank, moving towards broader horizons in achieving comprehensive and sustainable development empowerment for a vibrant and productive society.

In line with the ambitious development goals of Vision 2030, which drew the business map and paved the way for joint cooperation, the Bank’s contribution emerged in increasing the contribution of small and emerging enterprises and productive families to the national economy, enhancing social services and financial planning represented by savings programs, as well as empowering non-profit organizations.

First: Providing interest-free financing and non-financial services to micro-enterprises, to encourage their owners to practice businesses and professions on their own and for their own account. The bank determines the classification of these projects, the maximum limit for their capital and the number of employees in them.

Second: Providing interest-free loans and non-financial services to associations and civil society institutions, enabling them to contribute to providing services to the segments that the bank targets.

Third: Providing interest-free social financing to low-income citizens to help them overcome their financial difficulties.

Fourth: Providing interest-free loans to small and emerging enterprises to help increase their contribution to the national economy and create job opportunities.

Fifth: Providing technical and administrative support services to establishments benefiting from the bank’s services to raise their efficiency and increase their chances of success.

Sixth: Motivating the private sector to participate in social responsibility by managing private financial portfolios by the bank and directing them to the beneficiaries of its services in order to achieve the goals of social development.

Seventh: Working to encourage thrift and savings for individuals and institutions in the Kingdom, and creating tools and programs that achieve this goal.

Eighth: Developing and nurturing the micro-enterprise sector in a way that enhances its role in economic and social development.