Riyadh: The Social Development Bank held its second-quarter meeting for 2025, chaired by His Excellency the Minister of Human Resources and Social Development and Chairman of the Bank’s Board of Directors, Eng. Ahmed bin Sulaiman Al-Rajhi, in the presence of the board members. The meeting addressed several agenda items aimed at strengthening national efforts to serve citizens and support the Kingdom’s development ecosystem.
The Board reviewed the performance report for the first half of this year, which showcased the bank's commitment to fostering entrepreneurship and developing innovative business models. During this period, total financing reached SAR 4.3 billion, positively impacting over 43,000 citizens across various regions of the Kingdom. This funding included SAR 1.8 billion dedicated to supporting freelancers and productive families, benefiting more than 18,000 individuals; over SAR 1.5 billion allocated to small and emerging enterprises, for 5,000 businesses; and SAR 1 billion in social financing, which reached approximately 20,000 citizens.
The report also noted the creation of 40,000 new savings accounts by mid-year, which reflects the Bank’s efforts to empower beneficiaries in financial planning and saving.
Additionally, the report highlighted the bank’s wide range of initiatives and services aimed at supporting, enabling, and developing businesses through platforms including “Dulani Business Center” and “Jadah 30”, which host over 4,000 businesses in addition to more than 150,000 individuals have benefited from these programs across 13 branches throughout the Kingdom. This reflects the bank’s commitment to delivering a diverse range of financial and non-financial services across the Kingdom.
His Excellency Eng. Ahmed bin Sulaiman Al-Rajhi, Minister of Human Resources and Social Development and Chairman of the Bank’s Board of Directors, expressed his appreciation for the continuous and unwavering support provided by the wise leadership for development efforts. He emphasized that the achievements made during the first half of the year reflect the effectiveness of the Bank’s strategic direction in empowering individuals and enterprises, unlocking the potential of citizens, and creating an attractive labor market for both local and global talent, in support of the national economy’s progress.
The board praised the Bank for its successful celebration of its 53rd anniversary and the inauguration of “Jadah 30” at the bank's headquarters in Riyadh, attended by His Royal Highness Prince Faisal bin Bandar bin Abdulaziz, Governor of the Riyadh Region. The event highlighted the signing of several significant development agreements with the nonprofit sector to create a financing portfolio dedicated to promoting nonprofit sustainability. Additionally, agreements were established with various banks to develop financing portfolios for entrepreneurs and emerging enterprises. The occasion also marked the launch of the Freelancer Card, aimed at supporting freelance professionals by improving their access to financial solutions and banking services.
Eng. Sultan bin Abdulaziz Al-Humaidi, CEO of the Social Development Bank, affirmed that these achievements embody the bank’s pivotal role in advancing national development through targeted financing initiatives and services that reach various segments of society. He praised the generous support of the Custodian of the Two Holy Mosques and His Royal Highness the Crown Prince —may God protect them— which has enabled the bank to continue empowering entrepreneurs and supporting small and emerging enterprises, while contributing to the Kingdom’s economic and social growth
