Tamweel Electronic Portal Approved by the Public Authority for Small and Medium Enterprises (Monshaat)
No: 4105178 | Date(g): 1/4/2020 | Date(h): 8/8/1441 |
Translated Document
Referring to the role of SAMA in maintaining monetary and financial stability, supporting balanced and sustainable economic growth, including enabling the financial sector to support private sector growth, and its strategy to activate the use of electronic channels to enhance the level of services provided, contributing to the achievement of Vision 2030 of the Kingdom. And towards continuous and fruitful cooperation with all relevant government agencies in a manner that serves the public interest. Referring to the "Tamweel" electronic portal approved by the General Authority for Small and Medium Enterprises "Monshaat", which is a portal that brings together entrepreneurs and owners of small and medium enterprises seeking financing with licensed financing entities.
Accordingly, SAMA urges financing entities to provide their services to entrepreneurs and owners of micro, small, and medium enterprises through the "Tamweel" electronic portal accredited by the General Authority for Small and Medium Enterprises (Monshaat),and to benefit from the services offered through this portal and to process requests received through it within the specified times, due to the numerous benefits of this portal, including fostering competition among financing entities to provide suitable financing offers for these enterprises across various geographic regions, saving time and effort. Ultimately, this will increase lending and investment rates and stimulate economic growth.