Kafalah eyes raising financing guarantees to SAR 22B: CEO

10:18 AM (Mecca time) Argaam
Homam Hashem,CEO ofSmall and Medium Enterprises Loan Guarantee Program (Kafalah)

Homam Hashem, CEO of Small and Medium Enterprises Loan Guarantee Program (Kafalah)

Small and Medium Enterprises Loan Guarantee Program (Kafalah) aims to increase the financing guarantees issued to SAR 20-22 billion in 2025 and 2026, the program’s CEO Homam Hashem said in a statement to Al Eqtisadiah Newspaper.

 

He added that the program is working to launch new initiatives serving several promising sectors, such as the environmental sector to support desired environmental goals, in addition to sports projects supporting Saudi Arabia's journey to the 2034 World Cup.

 

More expansions will be done in several promising sectors to serve the programs and initiatives of the Saudi Vision and enable cutting funding gaps in light of the program's continued growth.

 

According to data available on Argaam, Kafalah Program issued 1,900 financing guarantees for small and medium-sized enterprises, at a value of more than SAR 4.8 billion in the first quarter of 2025. This translated to a growth of 19% in the three-month period from SAR 4 billion in Q1 2024.

 

The program also issued loan guarantees worth SAR 13.9 billion in 2024, to help develop the facilities financing ​sector. 

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