Riyadh - Sharikat Mubasher: The first day of the Biban 2025 forum witnessed the signing of over 30 agreements and memorandums of understanding (MoUs) as well as the launch of several financing and entrepreneurship initiatives exceeding SAR 22.3 billion.
These announcements aim to support entrepreneurship across different sectors and reinforce Saudi Arabia’s position as a global hub for entrepreneurship, according to an official statement by the Small and Medium Enterprises General Authority (Monsha’at).
Substantial agreements
Monsha'at concluded cooperation agreements with several local banks to provide financing portfolios. This included a SAR 5 billion agreement with the Riyad Bank and a SAR 4 billion deal with Alrajhi Bank.
The authority also signed agreements to launch several financing portfolios to foster entrepreneurs and small and medium-sized enterprises (SMEs) working in the financing sector. This includes launching a SAR 2 billion portfolio in partnership with the Arab Bank; a SAR 1 billion portfolio with Alinma Bank; a SAR 1 billion portfolio with Bank AlJazira; and a SAR 700 million portfolio with Banque Saudi Fransi; in addition to an MoU with the Saudi National Bank (SNB).
On the other side, Monsha’at inked three cooperation agreements to empower entrepreneurs. This involved a deal with Aramco to support fast-growing SMEs within the Tomoh program; a deal with the Social Development Bank to provide entrepreneurs with financing and training programs; and a deal with the Reef Academy to empower entrepreneurs in the agriculture sector through developmental and business sustainability programs.
The Small and Medium Enterprises Laon Guarantee Program (Kafalah) concluded agreements totaling SAR 300 million with Tarmeez Capital, Bidaya Finance, Sukuk Capital, and Rakeez Capital, while the SME Bank signed two deals worth SAR 220 million to foster SMEs and entrepreneurs.
Additionally, Monsha’at signed multiple agreements and MOUs with international entities, including the Japan External Trade Organization (JETRO), Korea Institute of Startup and Entrepreneurship Development, Korea SMEs & Startups Agency (KOSME), the Swedish Trade and Invest Council, Business France, Thailand’s National Innovation Agency (NIA), and India’s Ministry of Commerce and Industry.
The authority also signed an MoU with LinkedIn to exchange knowledge and empower fast-growing startups through specialized workshops. It signed another MoU with Standard Chartered Bank to implement the ‘Women in Tech’ program, designed to support women-led startups.
Key launches
The first day of Biban 2025 witnessed the announcement of several tech and financing launches to foster micro, small, and medium-sized enterprises (MSMEs).
Bank Albilad launched two financing portfolios: a SAR 2.9 billion portfolio dedicated to supporting entrepreneurs and MSMEs, and a SAR 200 million portfolio to foster fast-growing SMEs within the Tomoh program.
SNB unveiled a SAR 5 billion financing portfolio to offer innovative, flexible solutions that enhance SMEs’ expansions and sustainability. The Saudi Awwal Bank (SAB) launched a new digital service to enable MSMEs to open bank accounts seamlessly.
Moreover, Monsha’at unveiled the Artificial Intelligence Track among the Virtual Lab program to help startups adopt AI technologies, while the National Cybersecurity Authority (NCA) launched the Cybersecurity Accelerator.
These milestones underscore Monsha’at’s commitment to establishing an integrated entrepreneurship ecosystem, empowering MSMEs, driving innovation, and diversifying the national economy, in line with Vision 2030.