Credit Guarantee "Kifalah" Program
Small and Medium Enterprises are the backbone of any economy providing employment opportunities, economic diversification and technological innovations. Here at Al Rajhi Bank this understanding helps us appreciate your requirements.
The access to formal sources of funding is a major obstacle in sustainable growth for small and medium enterprises "SMEs". Financial institutions generally are reluctant to tie up with these entities due to lack of credit history and inability of these enterprises to provide collaterals and security according to the requirements of the financial institutions.
In order to bridge the gap between financial institutions and SMEs, the Saudi Industrial Development Fund, in collaboration with major commercial banks in the Kingdom, set up the SME Financing Guarantee Program (Kifalah) with the capital of SR 200 million. The Ministry of Finance contributed SR 100 million, with Al Rajhi Bank, contributing a significant share of SR 10.4 million.
For more information about the program please contact our Call Centre at 800-124-1222 or the Small Business Head Office at 01-2114403.