Riyadh: The Small and Medium Enterprises Bank (SME Bank) announced that total financing guarantees provided through the Small and Medium Enterprises Loan Guarantee Program (Kafalah) exceeded SAR100 billion, benefiting over 28,000 SMEs with total financing exceeding SAR140 billion.

According to Saudi Press Agency, SME Bank Chairman of the Board of Directors Yousef Al-Benyan attributed the milestone to the continued support of the Saudi leadership, noting that it reflects the program's role in strengthening the SME sector as a fundamental pillar of economic diversification under Saudi Vision 2030.

SME Bank CEO Ibrahim Al-Rashid said the program has contributed to business expansion, enabling 51 medium-sized enterprises to list on the Nomu parallel market. Guaranteed credit facilities through the program represent 8% of total SME facilities in the Kingdom, which reached SAR489 billion by the end of Q1 2026.

A study conducted with King Fahd University of Petroleum and Minerals showed that enterprises benefiting from the program recorded a 17% increase in employment compared to similar enterprises receiving conventional financing, while the program's contribution to GDP over the past five years was estimated at SAR27 billion.