Regulatory Alerts2023-12-16
Raising Customer Awareness of the "Tamweel" Portal Approved by the General Authority for Small and Medium Enterprises (Monsha'at)
The Saudi Central Bank reaffirms prior directives and mandates financing entities to actively direct rejected entrepreneurs and MSME owners to the "Tamweel" electronic portal for new applications, alternative financing solutions, and cross-regional opportunities. This directive aims to intensify competition among lenders, expand geographic financing coverage for these enterprises, and ultimately increase their contribution to the national economy. Compliance is required from all banks, financial institutions, and financing companies operating within the Kingdom.
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