The Small and Medium Enterprises Bank, in collaboration with Aramco Taleed and fintech company Manafa, has launched new financing solutions to support small and medium-sized enterprises connected to the Saudi Aramco ecosystem.
The initiative was announced during a ceremony held in Dhahran, with the aim of helping SMEs operating in projects, manufacturing, and services access digital financing solutions that enhance liquidity and improve operational efficiency.
Digital Financing Solutions to Support Liquidity
The initiative seeks to help SMEs overcome financing challenges that may affect their ability to manage operations, execute projects or meet financial obligations.
The new solutions offer fast financing procedures and flexible repayment plans of up to 12 months while remaining compliant with Islamic Sharia principles.
SAR 1.5 Billion in Financing Opportunities Over Five Years
The collaboration is expected to provide financing opportunities worth around SAR 1.5 billion over the next five years.
The available financing solutions include working capital, invoice receivables financing, payroll financing, purchase order financing, supply chain financing, revolving credit facilities, and e-commerce financing.
Extension of SME Bank and Manafa Partnership
The collaboration builds on the strategic partnership between SME Bank and Manafa, which began in 2023 as part of the bank’s efforts to expand access to innovative financing and modern digital finance solutions for small and medium-sized enterprises.
According to the bank, its agency financing program with fintech companies has now exceeded SAR 1 billion in financing, benefiting more than 720 financing opportunities.
This reflects the growing role of alternative financing and fintech solutions in supporting the SME sector in Saudi Arabia.
Supporting Saudi Vision 2030 Objectives
Ibrahim bin Hamad Al-Rashed, CEO of SME Bank, said the partnership represents a major step toward making digital financing more accessible to enterprises.
He added that the bank continues to support the SME sector by providing financing solutions and guarantees that strengthen sustainability and competitiveness, in line with the objectives of Saudi Vision 2030.
Enabling SMEs Within the Aramco Ecosystem
Jamil Al-Baqawi, Senior Vice President of National Development at Saudi Aramco, said the initiative will provide SMEs linked to the Aramco ecosystem with financing solutions that support their operational needs.
He explained that these solutions will help enterprises execute their projects and meet their obligations more efficiently.
Abdulaziz Al-Adwani, CEO of Manafa, said the company is proud of the partnership, adding that it will help deliver a seamless digital financing experience that enables SMEs to access funding quickly and support their long-term growth and sustainability.
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