Entrepreneurs in Saudi Arabia received loans worth SR100.02 billion (US$27 billion) in the first quarter, while the number of SMEs across the country during the same period surged by 15% to 755,979 from 650,550 a year ago. The Monsha’at service helped SMEs get the funding via the Kafalah program, which guaranteed secured loans of SR64.6 billion. Meanwhile, Saleh Alrasheed, Governor of Monsha’at, assured that the SMEs in the Kingdom would receive all the support they needed, such as lower fees and streamlined bureaucracy so that they could compete in the marketplace and grow into sustainable businesses.
FinTech’s Green Revolution: Nurturing Sustainable Practices Among Small Businesses
BY Triterras
- 09/04/24
Ashish Srivastava, our Triterras' Chief Commercial Officer shares in-depth with Intelligent Fin.Tech, a global technology intelligence platform which gathers the latest financial information, on how FinTech has emerged as a crucial catalyst, motivating and supporting small to medium enterprises on their path towards environmental responsibility through sustainable trade finance.