Saudi Arabia prepares to launch SMEs bank

06/04/2019 Argaam

 

Saudi Arabia has approved to conduct a study in cooperation with the World Bank on establishing a bank for small and medium enterprises (SMEs), Asharq Al-Awsat reported, citing Majid Al-Qasabi, Minister of Commerce and Investment.

 

Elsewhere, the ministry will launch the Saudi Business Center, which provides one-stop shop business services, in less than a month, he said during the recent Biban Eastern Forum.

 

According to data compiled by Argaam, Saleh Al-Rasheed, governor of the Saudi Small and Medium Enterprises General Authority (Monshaat) has said that several initiatives will be launched in 2019, including ‘Monsha’at Bank’, which is still in the early stages of study.

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