The first day of the Biban 2025 forum in Riyadh saw a monumental commitment to the Kingdom’s small and medium-sized enterprise sector, with over SAR 21 billion (approximately $5.6 billion) in financing agreements signed. The agreements, facilitated by Saudi Arabia’s General Authority for Small and Medium Enterprises, Monsha’at, and a consortium of leading Saudi banks, aim to provide entrepreneurs with flexible and innovative funding solutions, reinforcing the event’s theme, “A Global Destination for Opportunities.”
Strategic Financing For A Thriving Ecosystem
Eight key agreements were signed between Monsha’at and national banks to create substantial financing portfolios. Riyad Bank led with a SAR 5 billion agreement to activate a joint financing program for micro, small, and medium enterprises. Al Rajhi Bank followed with a SAR 4 billion portfolio to support entrepreneurial ventures and expand innovative financing products.
Further commitments included a SAR 2 billion deal with Arab National Bank (anb) to help enterprises scale and a SAR 1 billion portfolio with Alinma Bank focused on improving access to capital. Bank AlJazira and Banque Saudi Fransi (BSF) also signed agreements valued at SAR 1 billion and SAR 700 million, respectively, targeting working capital and contractor financing.
Major Portfolios Launched To Propel Growth
In addition to the direct agreements, several banks announced major initiatives. Saudi National Bank (SNB) signed an MoU with Monsha’at to enhance cooperation and launched its own SAR 5 billion financing portfolio dedicated to SMEs.
Bank Albilad also introduced a SAR 2.9 billion portfolio to support entrepreneurs and SMEs, along with a specialized SAR 200 million fund under its “Tamouh” program, which is designed specifically to back fast-growing enterprises. These initiatives underscore a collective commitment from the financial sector to foster a competitive funding environment in line with Saudi Vision 2030.
Fostering International Talent And Collaboration
Beyond financing, Biban 2025 emphasized Saudi Arabia’s growing position as a global hub for talent and innovation. The Saudi Premium Residency Center granted the “Entrepreneur Visa” to over 100 entrepreneurs from more than 20 countries, a move designed to attract global talent and innovative startups to the Kingdom.
International collaboration was also a key theme, highlighted by an MoU signed between Monsha’at and the Japan External Trade Organization (JETRO). The partnership aims to enhance cooperation in the entrepreneurial field through knowledge exchange, joint events, and support for initiatives that help startups from both nations access new markets.
About Monsha’at
The General Authority for Small and Medium Enterprises (Monsha’at) was established in 2016 to organize, support, develop, and sponsor the SME sector in Saudi Arabia in line with the goals of Vision 2030. It aims to increase the productivity of SMEs and their contribution to the GDP by providing support programs, removing obstacles, and fostering a competitive entrepreneurial environment.
Source: aleqt
