News 24 Minister of Commerce: We are considering the creation of a bank for small and medium enterprises

The Minister of Commerce and Investment, Majid Al-Kasabi, revealed that the ministry had started with the approval of higher authorities in the preparation of a study to create a bank for the financing of small and medium-sized enterprises, including related organizations such as ministries of finance, municipalities and chambers of commerce.

Al-Qasabi pointed out that the Social Development Bank played an important role in financing the small and medium-sized enterprise sector, but that the ministry was seeking a larger funding role for the sector. Sector

The Minister of Trade and Investment pointed out that the Social Development Bank provided loans to the small and medium enterprises sector, amounting to between 3 and 9 million riyals, but that 's only a few. it was necessary to increase the level of funding, in order to give additional value to these projects, which offer more employment opportunities to the national workforce.