Emblem of the financing assure program for small and medium enterprises – Kafalah
Rafiq Marwan, Director of the Enterprise Improvement and Research Division of the Financing Assure Program for Small and Medium Enterprises (Kafala), stated that this system recorded defaults value 1.2 billion riyals out of a complete financing ensures amounting to 90 billion riyals, “that’s, lower than 1.5%.”
He defined, in accordance with what was reported by Al-Eqtisadiah newspaper, that this system seeks to lift the worth of financing ensures over the following two years to the goal variety of 200 billion riyals, after this system was in a position to present financing ensures for loans with a complete worth of 127 billion riyals.
Based on information numbersThe Kafalah Program goals to assist small and medium enterprises in acquiring the mandatory financing to develop and develop their actions, and to encourage monetary establishments to take care of the small and medium enterprises sector, along with attracting a brand new section of small and medium enterprise house owners, so as to develop and develop this sector.
