User:KhalidASakir/Social Development Bank

Formerly known as Saudi Bank for Credit and Saving

Inception and Foundation
In 1971, a Royal Decree was issued to establish the Saudi Bank for Credit with a starting capital of five million Saudi Riyals to provide social loans. In 1983, the program of professional loans was delegated to the Bank. In 1993, the Bank's capital increased to one billion Saudi Riyals. In 2001, the Custodian of the Two Holy Mosques Program for financing taxis was entrusted to the bank. In 2006, the bank's capital was raised to six billion Saudi Riyals. One year later, the Bank changed its name in 2007 to the Saudi Bank for Credit and Savings, and three more tasks were delegated to it: Providing interest-free loans to small and emerging enterprises, acting as the complementary coordinator so as to sponsor the sector of small and emerging enterprises, and promoting savings. In 2008, a deposit of ten billion Saudi Riyals was added to the Bank's capital. In 2011, the Bank's capital increased to reach thirty six billion Saudi Riyals with the adjustment of the lending regulations for the small enterprises and startups. In 2013, the Bank's capital was raised to forty six billion Saudi Riyals and the Social Program lending regulations were amended. In 2016, a decree from the Council of Ministers was issued to change the Bank's name to the Social Development Bank

Bank’s Capital

 * In 1971, the Bank started with a capital of 5 Million Saudi Riyals.
 * In 1993, the Bank’s capital was raised to reach 1 Billion Saudi Riyals.
 * In 2006, the Bank’s capital was raised to reach 6 Billion Saudi Riyals.
 * In 2008, a 10 billion Saudi Riyal deposit was added to the Bank’s capital.
 * In 2011, the Bank’s capital increased to 36 Billion Saudi Riyals.
 * In 2013, the Bank’s capital increased to 46 Billion Saudi Riyals.

Bank’s Responsibilities and Duties
Providing interest-free loans to the small and emerging enterprises, and the national craftsmen and work labor citizens in order to encourage them to practice business themselves and be self-employed.

Providing interest-free loans and non-financial services to non-government organizations and societies in order to enable them to contribute to the provision of services to the target sectors of the Bank.

Providing interest-free social loans to citizens with limited incomes to help them overcome their financial difficulties.

Providing interest-free loans to the small and emerging enterprises, which will help to increase their contribution to the national economy and create employment opportunities.

Providing technical and administrative services in support of the enterprises benefiting from the Bank's services to improve their efficiency and increase their chances of success.

Encouraging the private sector to participate in social responsibility by managing the bank's private financial portfolios and directing them to their beneficiaries in order to achieve social development goals.

Working on promoting savings among individuals and institutions in the Kingdom, and creating the tools that will achieve this goal.

Developing the micro-enterprise sector and sponsoring it to enhance its role in the economic and social development.

Bank Products
The Bank provides financing in three different streams: They are as follows:

Individuals Products
Social Financing: It is a free financing service dedicated for the most needy sector. It can be up to 60,000 Saudi Riyals and it includes the following products:

·      Marriage financing

·      Family financing

·      Ahal

·      Kanaf

Individuals who have obtained social funding are also legible to obtain Zood savings product.

Freelancing Financing: It is a financing service offered to support the individuals and families who desire to be self-employed in the different fields of private business: It includes the following products:

·      Nafath is a product with nominal fees and its financing can reach up to 150.000 Saudi Riyals. It has two paths:


 * Specialized businesses with a maximum financing of 60.000 Saudi Riyals
 * Ridesharing transportation with a maximum financing of 150.000 Saudi Riyals

·      Financing productive families is product with no fees and its financing can be up to 50.000 Saudi Riyals.

Families who have Productive Family Registration Certificates at the Bank can also obtain Zood savings product for productive families.

Business Products

Providing loans starting from 50.000 Saudi Riyals up to a maximum of 8 million Saudi Riyals and it includes the following products:


 * Health Care


 * Financing business incubators and accelerators
 * Financing emerging technology enterprises
 * Ayed (Return on investment)
 * Usus (Basics)
 * Hal (solution)
 * Mobile vending trucks
 * Financing emerging enterprises
 * Financing graduates
 * Invention
 * Excellence
 * Business Franchise

Third sector Products
·      Da'im (Sustainable business)

·      Sahim (Contributor)

Bank Non-financial Programs
One of the Bank's key tasks is to act as the complementary coordinator in order to sponsor the small and emerging enterprise sector. Therefore, the Bank has established the National Center for sponsoring the small and emerging enterprises. This center focuses on supporting entrepreneurs by providing non-financial services to them through six different programs. They are as follows:


 * Savings Program
 * Training and Certification Program
 * Guidance Program
 * Business Clinics Program
 * Integration with Major Business Entities Program
 * Spreading Private Business Culture Program

The Bank has 26 branches located in all regions of the Kingdom to provide its services to the citizens and save them the hassles. They are located in:


 * Riyadh
 * Jeddah
 * Dammam
 * Makkah Al-Mukaramh
 * Al-Madina Al-Munawrah
 * Burida
 * Al-Ahsa
 * Khamis Mushait
 * Taif
 * Tabuk
 * Hail
 * Al-Jouf
 * Jazan
 * Wadi Al-Dawaser
 * Al-Kharj
 * Al-Baha
 * Najran
 * Baisha
 * Al-Namaas
 * Al-Qonftha
 * Al-Majmah
 * Al-Dawadmi
 * Al-Qurait
 * Hafr Al-Baten
 * Arar
 * Yanbu
 * Al-Rass

Riyadh, Jeddah, Dammam, and Jazan branches have female sections.