Guaranteed Funding Initiative Launched

Saudi Arabia’s Monetary Agency has announced it has launched a new initiative together with the Programme for Sponsoring Small and Medium Enterprises (Kafala). The Guaranteed Funding initiative offers guarantees of up to 95% of the value of the crediting issued in line with Kafala approved workflows. The aim is to provide extra support and boost the credit worthiness of SMEs and micro enterprises by reducing the impact of reduced cashflows and help them continue offering their services to their customers and pay their employees’ salaries. Full story

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