Riyadh – Exclusive Sharikat Mubaser: In the past 5 years, the Kafalah Program managed to provide guarantees for about SAR 150 billion of loans, seeking to make it SAR 200 billion during the coming period of time.

This statement is made by Hammam Hashem, CEO of the financing loan program “Kafalah” of the General Authority for Small and Medium Enterprises, on the sidelines of the Biban 24 conference, taking place in Riyadh from 5 to 9 November.

Hashem added that the program offers guarantees to over 13 products, a number that’s eligible to up during the coming days of the event.

The CEO added that the Kafalah Program helped create 1,000,000 job opportunities within the private sector by providing financial guarantees for SMEs to enhance the opportunity for enterprises to obtain the necessary financing for the purpose of reducing the lending risks borne by financing entities.

Expected to welcome over 160,000 visitors, Biban 2024, which runs in Riyadh from 5 to 9 November, will provide 10,000 investment and entrepreneurial opportunities, 420 workshops for over 19,000 beneficiaries, and consultation and guidance sessions for more than 5,000 beneficiaries.