Monsha'at Honors Banks and Companies with Highest Financing and Growth for SMEs in 2023

The Small and Medium Enterprises General Authority (Monsha'at) has honored the top financial institutions supporting micro, small, and medium enterprises (SMEs) for 2023 during the closing ceremony of the Biban24 Forum, held under the theme "Global Destination for Opportunities." This recognition aims to encourage increased lending to SMEs, positively impacting the financial ecosystems of these businesses.

 The Saudi National Bank (SNB) topped the list of honorees, receiving the Leading Bank for Micro and Small Enterprises Funding Award for 2023 in appreciation of its support for these vital projects. Monsha'at also recognized Riyad Bank as the Leading Bank for Medium Enterprises Funding in 2023, acknowledging its efforts to support the development of this sector and provide comprehensive financial solutions.

 In terms of growth and excellence, Alinma Bank was honored as the Highest Growing Bank for Funding Micro, Small, and Medium Enterprises in 2023, recognizing its effective strategies to empower startups and support sustainable growth.

 Among financing companies, Abdul Latif Jameel Finance was distinguished as the Leading Non-Bank Financial Institution (NBFI) for Micro Enterprise Funding in 2023 due to its innovative financing services that support small business owners. Meanwhile, Tamweel Aloula was recognized as the Highest-Growing NBFI for MSME Funding in 2023, reflecting its active role in nurturing the entrepreneurial ecosystem in the Kingdom of Saudi Arabia.