The first day of the "Biban24" forum, organized by The Small and Medium Enterprises General Authority (Monsha'at), witnessed the signing of numerous financing agreements with a group of local banks, with a total value exceeding 15 billion riyals. These agreements aim to support entrepreneurs and owners of small and medium enterprises (SMEs) in Saudi Arabia.

Monsha'at signed an agreement with the Saudi National Bank worth 3 billion riyals to enable SMEs to access flexible financing solutions that meet their diverse needs and enhance their business sustainability. Al Rajhi Bank allocated a financing portfolio worth 2.5 billion riyals during Biban24 to offer innovative financial solutions that support the expansion of the SME sector.

Monsha'at also signed an agreement with Bank Albilad for 2.85 billion riyals to provide flexible financial support for entrepreneurs in line with the goals of Saudi Vision 2030. Another 3 billion riyal agreement was signed with Riyad Bank to support and empower entrepreneurs and SMEs with flexible financing solutions that allow them to grow and sustain their businesses.

Saudi First Bank launched a financing portfolio of up to 1 billion riyals and announced the allocation of a 1.1 billion riyal portfolio, alongside a new product specifically designed to support e-commerce with a value of 500 million riyals, to help online store owners develop their businesses.

Monsha'at also entered into agreements with Alinma Bank for 800 million riyals and with Banque Saudi Fransi (BSF) for a 700 million riyal financing portfolio to strengthen SMEs’ capacity for growth and the achievement of their objectives.

These agreements and launches are part of Monsha'at's efforts to facilitate entrepreneurs' and startup owners' access to the capital needed to grow their businesses, offering flexible financial solutions with simplified procedures. This enhances the competitiveness of SMEs in the Kingdom and contributes to diversifying the national economy, in line with Vision 2030.