SAR 4.3 Billion Financing By Social Development Bank Supports Over 43,000 Citizens In H1 2025

The Social Development Bank recently conducted its second-quarter meeting for 2025. This meeting was led by Eng. Ahmed Al-Rajhi, the Minister of Human Resources and Social Development and Chairman of the Bank's Board of Directors, with board members present. The agenda focused on enhancing national efforts to support citizens and boost the Kingdom's development framework.

During the first half of the year, the bank's performance report highlighted a commitment to entrepreneurship and innovative business models. Total financing reached SAR4.3 billion, benefiting over 43,000 citizens across Saudi Arabia. This included SAR1.8 billion for freelancers and productive families, aiding more than 18,000 people.

Additionally, over SAR1.5 billion was allocated to small and emerging enterprises, supporting 5,000 businesses. Social financing amounted to SAR1 billion, reaching around 20,000 citizens. These figures reflect the bank's strategic focus on empowering individuals and enterprises within the Kingdom.

The report also noted that by mid-year, 40,000 new savings accounts were created. This underscores the bank's dedication to helping beneficiaries with financial planning and saving. Various initiatives and services have been launched to support businesses through platforms like "Dulani Business Center" and "Jadah 30," which host over 4,000 businesses.

Eng. Al-Rajhi expressed gratitude for the continuous support from leadership in national development efforts. He highlighted that achievements in the first half demonstrate the effectiveness of the bank’s strategy in unlocking citizen potential and creating an attractive labor market for local and global talent.

The board celebrated the bank's 53rd anniversary by inaugurating "Jadah 30" at its Riyadh headquarters. The event was attended by Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh Region. Several significant agreements were signed with nonprofit organizations to promote sustainability through dedicated financing portfolios.

Empowering Freelancers

Additional agreements were made with banks to develop financing portfolios for entrepreneurs and emerging enterprises. The Freelancer Card was launched during this event to enhance freelance professionals' access to financial solutions and banking services.

CEO Eng. Sultan Al-Humaidi emphasized that these accomplishments reflect the bank’s crucial role in advancing national development through targeted financing initiatives for various societal segments. He acknowledged the generous support from King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud.

This support has enabled continued empowerment of entrepreneurs while contributing significantly to Saudi Arabia’s economic and social growth.

With inputs from SPA