Press Releases

Under the joint efforts to support the SMEs owners according with Saudi vision 2030, Riyad bank signed a cooperation agreement with the General Authority for Small and Medium Enterprises “Monshaat” to launch franchise financing program، in the presence of CEO of Riyad bank Mister Tareq Abdulrahman Al-Sadhan and the governor of the general authority for small and medium enterprises engineer Saleh Ibrahim Al-Rasheed, and number of officials from both parties.

Riyad Bank announced the start of the offering of Tier 2 capital Sukuk, denominated in Saudi riyals, on a private placement in the Kingdom of Saudi Arabia.

Riyad Bank launched a campaign for its new real estate finance product, which allows customers to obtain financing within 10 days, deferring the first three installments and providing free administrative fees. For all completed or under construction residential real estate in all cities and around the Kingdom, in addition to real estate completed by at least 50% as per the credit policy of Riyad Bank, besides subsidized financing programs and Al-moyassar home mortgage in cooperation with the Real Estate Development Fund and the Ministry of Housing.

The banks in the kingdom with support from Saudi Arabian monetary authority have launched their campaign # khalha_lak to increasing awareness of financial fraud methods. This national initiative is the first one of its kind in the kingdom; this campaign aims to increase the society awareness of deferent methods of financial fraud operations, to reduce the implications effects on the society and individuals.

This story appears in the Special Custom G20 Edition of Forbes Middle East.

In recent years Saudi Arabia has encouraged consolidation in its banking sector to create stronger entities that are able to support the role of the private sector and help the kingdom diversify its oil-dependent economy.