August 2022: Al Jabr Finance Company continues its strategy to expand its service network by strengthening its relations with various public and private sector supporting entities with the aim of providing the best services and financing solutions to its customers, whether individuals or enterprises. To this end, a cooperation agreement has been recently signed between Al-Jabr Finance Company and the Small and Medium Enterprises Financing Guarantee Program Kafalah which has been dedicated to facilitate the access of SMEs to the financing necessary to implement their projects in order to raise their contribution to the GDP.

The signing ceremony and formalities of the agreement took place between the Director General of Kafalah Program, Mr. Hammam Hashim, and the Executive Director of Al-Jabr Finance Company, Mr. Mohammed Al-Shaya, in the presence of the Director of Strategy and Institutional Development at Al-Jabr Finance Company, Mr. Saad bin Maher Al-Jabr.

On this occasion, the Executive Director of Al-Jabr Finance Company, Mr. Mohammed Al-Shaya, pointed out that this agreement comes within the framework of the steps taken by the company to expand its business base, and directing it towards serving the unprecedented development movement that the Kingdom is witnessing in light of the Kingdom 2030 Vision, which gives SMEs sector great attention in many of its programs and initiatives in order to promote this sector to be an active and contributing factor to the Director of Strategy and Institutional Development at Al-Jabr Finance Company, Mr. Saad bin Maher Al-Jabr continued by saying: Kafalah Program is a program that has a positive impact in supporting the financing of SMEs by encouraging the financing entities to inject the financing funds into these enterprises through its contribution in providing them with the necessary guarantees to cover the financing risks in this type of financing.

For his part, the Director General of Kafalah Program Mr. Hammam Hashim, said: Kafalah Program Program is one of the national programs specialized in serving SMEs sector in the Kingdom, and we are happy in Kafalah Program to serve our beloved giving country and participate in helping SMEs to achieve a contribution of 20% to 35% to the GDP according to the Kingdom 2030 Vision. However, the agreement that we are witnessing today with Al-Jabr Finance Company is part of Kafalah efforts to build partnerships that contribute to this end.