Saudi Gazette report

RIYADH — The Saudi Industrial Development Fund (SIDF) has won two gold awards at the Middle East and North Africa Stevie Awards, the only awards in the region to recognize innovation.

The SIDF bagged a gold award for innovation in business information or application websites for developing the Tamkeen app to apply for and follow up on loans and received the second gold Award for the smart mobile application designated for its clients, the Saudi Press Agency reported on Thursday.

The fund’s journey toward digital transformation contributed to increasing the number of accredited loans by 38 percent and the growth of its capacity to process and examine loans by three folds, in addition to reducing the duration of receiving loans by 53 percent from 11 months to only five months, which accords with international criteria.

The awards saw the participation of companies and individuals from the region’s 17 countries and winners of the gold, silver, and bronze awards are determined based on the average marks by 60 global professional figures through six juries.