Provision of Finance Awareness Programs for SMEs

Saudi Central Bank
SAMA
Saudi Central Bank

Ref. No.: 44003844
Date: 1444/01/13
Attachments: None

To:

The Addressees, Peace, mercy, and blessings of God be upon you,

Subject: Encouraging the Provision of Finance Awareness Programs for SMEs.

In line with the main objectives of the Financial Sector Development Program – one of the initiatives under Saudi Vision 2030 – to empower financial institutions to support private sector growth, enhance financial planning, and strengthen financial literacy, and in alignment with objectives aimed at supporting the SME sector to become a vital pillar sustaining the Kingdom's economic prosperity, and considering the importance of providing finance awareness programs for SMEs to ensure their proper engagement with financial products,

Accordingly, the Saudi Central Bank encourages all financial institutions to develop periodic finance awareness programs specifically for SMEs, tailored to the institution's customer segment and current or potential awareness gaps identified by the institution. It further encourages leveraging various awareness channels to ensure these programs reach SMEs, and submitting a periodic quarterly report detailing financial institutions' contributions in this regard to the email address (financialawareness@sama.gov.sa).

Yours sincerely, Bin Naeem The Authority Yazeed bin Ahmed Al-Sheikh Deputy Governor for Supervision

Distribution Scope:

• Banks and financial institutions operating in the Kingdom.
• Financing companies operating in the Kingdom.

P.O. Box 2992 Riyadh 11169, Kingdom of Saudi Arabia Tel: +966 11 463 3000
P.O. Box: 2992, Riyadh 11169, Kingdom of Saudi Arabia Tel: +971 11 463 3000