Saudi Gazette report

RIYADH — Minister of Human Resources and Social Development and Chairman of the Board of Directors of the Social Development Bank Eng. Ahmed Al-Rajhi hailed Tuesday's Cabinet decision with regard to the Social Development Bank, saying that this is supportive to most vulnerable groups in the Saudi society.

The minister expressed his thanks and appreciation of Custodian of the Two Holy Mosques King Salman and Crown Prince and Prime Minister Mohammed bin Salman on the occasion of the Cabinet's approval for the Social Development Bank to formulate a program to sponsor the most needy beneficiaries of the bank's services so as to enable them to obtain financing products provided by the bank or other entities. "This step embodies the keenness of the wise leadership to support the most needy groups and promote financial inclusion," he said.

According to the minister, this program embodies the Kingdom's commitment to providing a supportive and integrated environment for the most vulnerable groups. "The bank will develop and implement the program efficiently to achieve its objectives, as well as to enhance the bank's development impact, in alignment with the goals of Saudi Vision 2030, thus empowering the largest number of beneficiaries and achieving sustainable development," he said.

Al-Rajhi affirmed that the bank continues to fulfill its development mission, which it has adopted over the past years, by providing specialized financing solutions and qualitative initiatives that contribute to empowering individuals and businesses and maximizing social impact. The bank's total cumulative financing has exceeded SR160 billion, benefiting more than 10 million people, highlighting the bank's vital role in supporting the national economy and financial inclusion.