Emirates NBD to support SME clients within Kafalah Program

Emirates NBD, a leading financial services institution in the region today announced that it will lend financing support to SME clients, as part of the nation-wide Kafalah program.

The announcement is aligned to the bank’s strategic and long-term commitment to the SME (small and medium enterprises) sector, a key sector of the Saudi economy that contributes significantly to the Kingdom’s economic development.

Commenting on this news, Eng. Loai AbdulJawad, General Manager of Emirates NBD in Riyadh said, “We are proud to be the first non-Saudi bank to support the government’s Kafalah program. The program is integral to the long-term development of the Kingdom’s economy and we are pleased to offer our continuous support to SMEs”.

The Kafalah Program is collaboration between the Ministry of Finance, represented by the Saudi Industrial Development Fund (SIDF) and Saudi banks, and aims to promote financing to Small and Medium Enterprises (SMEs) within the Kingdom of Saudi Arabia.