Provision of Finance Awareness Programs for SMEs
| No: 44003844 | Date(g): 10/8/2022 | Date(h): 13/1/1444 | Status: In-Force |
Translated Document
Effective from 2022-08-10 - Aug 09 2022
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In line with 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 promoting 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 financing entities to develop periodic financial awareness programs tailored for small and medium enterprises in a manner that suits the specific client segment of the financing entity and the current or potential awareness gaps as identified by the financing entity. Additionally, it advises utilizing various awareness channels to ensure that these programs reach the intended enterprises. The financing entities are also requested to provide SAMA with a quarterly report detailing their contributions in this regard, to be sent to the email address.