Raising Customer Awareness of the "Tamweel" Portal Approved by the General Authority for Small and Medium Enterprises (Monsha'at)

Saudi Central Bank
Reference No.: 45035463 | Date: 1445/06/04 | Attachments: None

Circular

To: Respected Parties,
Peace be upon you,

Subject: Raising Customer Awareness of the "Tamweel" Electronic Portal Approved by the General Authority for Small and Medium Enterprises (Monsha'at).

With reference to Saudi Central Bank Circulars No. (41051780) dated 1441/08/08 AH and No. (43104408) dated 1443/12/26 AH, concerning the "Tamweel" Electronic Portal approved by the General Authority for Small and Medium Enterprises (Monsha'at), which urge financing entities to provide their services to entrepreneurs and owners of micro, small, and medium enterprises (MSMEs) through the "Tamweel" Electronic Portal.

Accordingly, the Saudi Central Bank reiterates its confirmation of the provisions stated in the aforementioned circulars, and emphasizes the necessity of directing customers from the category of entrepreneurs and MSME owners—who may be rejected financing for any reason—to return to the "Tamweel" Electronic Portal and submit a new application to benefit from the services provided through the portal, thereby finding other financing solutions and opportunities; this contributes to increasing competition among financing entities, offering financing proposals for these enterprises across diverse geographical regions, and consequently increasing their contribution to the national economy.

For information and compliance.

Yours sincerely,

Yazid bin Ahmed Al-Sheikh
Deputy Governor for Supervision

Distribution Scope:

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