Provision of Finance Awareness Programs for SMEs
| No: 44003844 | Date(g): 10/8/2022 | Date(h): 13/1/1444 | Status: In-Force |
Translated Document
Based on the main objectives of the Financial Sector Development Program- which is one of the programs of Saudi Vision 2030- regarding empowering financial institutions to support the growth of the private sector, enabling financial planning, and enhancing financial literacy, and in line with the objectives aimed at supporting the small and medium enterprises (SMEs) sector to become one of the key sectors supporting the prosperity of the Kingdom's economy, and due to the importance of providing financial awareness to SMEs to ensure their ability to properly handle financial products.
Accordingly, SAMA urges all finance entities to develop periodic financial awareness programs tailored for small and medium enterprises, in a way that aligns with the specific client segment of the finance entity and addresses the current or potential awareness gaps as identified by the finance entity. Additionally, it encourages the use of various awareness channels to ensure these programs effectively reach the targeted enterprises. Finance entities are also requested to submit a quarterly report to SAMA detailing their contributions in this regard, via the designated email address.