SAUDI ARABIA

SDB to provide up to SR150000 financing for widows, divorcees

April 12, 2021

Okaz/Saudi Gazette

RIYADH — The Saudi Social Development Bank (SDB) announced financial support for widows and divorcees through the bank’s Nafat product.

Speaking to Okaz/Saudi Gazette, Al-Dana Al-Ajaji, director of the Strategic Companies Department at the bank, said that there will be financing up to SR60,000 for any widow or divorcee who wants to engage in self-employment.

She said the financing of up to SR150,000 will be offered for everyone who has a desire to work in ride-sharing through guided vehicle applications, in addition to providing financing of up to SR50,000 for productive families’ projects.

Al-Dana said the bank provides its financing through the Kanaf product, with financing of up to SR30000, and up to SR60,000 in the field of home renovation.

On the terms of financing, she said: “The conditions are easier, and the most prominent of which are passing the credit examination, providing a guarantee for financing, and completing the required documentation in accordance with the product specifications.

“The bank attaches importance to supporting Saudi women through the financial and non-financial programs, services and initiatives, in a way ensuring equal opportunities for men and women.

“The bank provided support and empowerment for Saudi women through a number of programs and services, as the bank’s funding for women exceeded SR13 billion with more than 300,000 women beneficiaries.”

The bank has also provided support and funding to 115 women in participatory transportation during the year 2020.

“These numbers that the bank has achieved in supporting women contributed to the growth of women who were financed with the bank’s various products.

“This was reflected in the bank’s growth rate, which exceeded 400 percent during the past three years,” she added.


April 12, 2021
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