Samba and Saudi Enterprises launch a program to finance small and...

Riyadh – Mubasher: Samba Financial Group and the General Authority for Small and Medium Enterprises “Monshaat” in Saudi Arabia signed a cooperation agreement to launch a franchise financing program, according to which Samba will finance franchise operations, with competitive profit margins and concessional terms for the purpose of enabling entrepreneurs and micro, small and medium enterprises to Obtaining medium-term financing facilities that are compliant with Islamic Sharia to carry out franchising operations.

This agreement comes, according to a statement by the authority published on Sunday, as part of a series of joint initiatives between the two sides aimed at stimulating the vital small and medium-sized enterprises sector and enhancing its contribution to the GDP.

The agreement was signed by Saleh bin Ibrahim Al-Rasheed, Governor of the General Authority for Small and Medium Enterprises, and Ms. Rania Bint Mahmoud Nashar, CEO of Samba Financial Group, in the presence of a number of senior executives from both sides.

Based on its active role in supporting small and medium enterprises and enabling their owners to raise their productivity and support them to expand their contribution to the national economy, Samba will, according to the agreement, provide easy financing products supported by competitive advantages for the purpose of supporting commercial franchise owners, while the duration of the facility reaches 5 years, provided that This includes the franchising of both local and international brands and with the guarantee of the franchise financing guarantee program with coverage up to 90%.

The two sides agreed to provide workshops for owners of small and medium enterprises to familiarize them with the dimensions of the financing program, its advantages and returns, in addition to launching joint awareness campaigns through the media channels of the two parties.

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