HRH the Crown Prince, Chairman of NDF, Approves Renewal of Al-Benyan’s Chairmanship of SME Bank

His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud,
Crown Prince and Prime Minister, and Chairman of the National
Development Fund (NDF), has approved the renewal of the membership of
Yousef bin Abdullah Al-Benyan as Chairman of the Board of Directors of
the Small and Medium Enterprise Bank (SME Bank) for a three-year term,
starting from 3/6/1447 AH.
On this occasion, Al-Benyan expressed his
gratitude and appreciation to HRH the Crown Prince for this generous
trust, praising His Highness’s continuous support for the SME sector,
which contributes to enhancing its stability and strengthening its role
as one of the key pillars of economic development and a vital enabler in
achieving the goals of Saudi Vision 2030.
Al-Benyan noted that the
great attention the wise leadership has devoted to the SME sector has
been the main driver behind its significant expansion and the rise in
financial facilities provided to it over the past years. He affirmed the
board’s commitment to fostering the growth of small and medium
enterprises, enhancing their contribution to GDP, promoting financial
sustainability, and supporting overall economic growth.
The SME Bank
was established under a resolution of the Cabinet. The bank operates
under the umbrella of the NDF, aiming to expand the total lending
portfolio within the financial sector, bridge the financing gap,
strengthen the contribution of financial institutions in offering
innovative financing solutions, and promote financial stability in this
vital and dynamic sector.