Regulatory Alerts2022-08-11
Provision of Finance Awareness Programs for SMEs
The Saudi Central Bank (SAMA) directs all financial institutions in the Kingdom to develop periodic finance awareness programs tailored to SMEs, addressing current or potential knowledge gaps within their specific customer segments. Institutions must utilize diverse awareness channels to ensure program accessibility and submit quarterly reports detailing their contributions to the designated SAMA email address. This directive advances Saudi Vision 2030’s Financial Sector Development Program by strengthening financial literacy and enabling SMEs to effectively utilize financial products, thereby sustaining private sector growth.
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