Latest news with #SaudiSocialDevelopmentBank
CairoScene
4 days ago
- Business
- CairoScene
Saudi Bank Launches Jewellery Training With Italian Craft School
A new jewellery workshop in Asir is pairing Italian technique with Saudi traditions to train local artisans in craftsmanship. A new training initiative in Asir is inviting Saudi artisans to hone their skills in gold and copper leaf jewellery-making through a partnership with Italy's Alchimia Contemporary Jewellery School. The programme, launched on August 1st by the Saudi Social Development Bank, is designed to combine local craft traditions with international expertise. Drawing inspiration from Al-Qatt Al-Asiri, a form of heritage art from the region recognised by UNESCO, the course offers instruction in techniques tailored to current market tastes. The partnership was formally marked with a cooperation agreement signed between the bank and the Florence-based school, which is known for its experimental approach to contemporary jewellery. Participants, including freelance designers and artisans, are learning to develop high-quality pieces that reflect both personal creativity and regional aesthetics. Since the larger training scheme began in 2023, more than 300 people have taken part in 15 different programmes. Of those, a significant number have turned their designs into products - some even securing funding to expand their businesses. According to bank figures, about 30% of previous trainees have received financing, and over 150 cottage industry families have expanded operations after participating.
Asharq Al-Awsat
23-04-2025
- Business
- Asharq Al-Awsat
Saudi Social Development Bank Surpasses $43.2 Billion in Total Financing
The Saudi Social Development Bank has announced that its total financing since inception has exceeded SAR162 billion (USD43.2 billion), benefiting more than 10 million citizens and playing a vital role in the Kingdom's social and economic transformation. The announcement was made by Minister of Human Resources and Social Development and Chairman of the Bank's Board, Eng. Ahmed Al-Rajhi, during the bank's 53rd anniversary celebration held on Monday in Riyadh. The event was held under the patronage and in the presence of Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh Region, and marked the launch of the 'Jada 30' initiative. Prince Faisal commended the bank's achievements over the past five decades, highlighting its impact in empowering citizens and advancing national development goals in line with Saudi Vision 2030. In turn, Al-Rajhi emphasized the bank's ongoing commitment to supporting development pathways and empowering individuals and communities. He reaffirmed the bank's role as a key driver of financial and social inclusion across the Kingdom. As part of the celebration, the bank unveiled 'Jada 30,' a new initiative designed to foster entrepreneurship and support small and emerging businesses. Bank CEO Eng. Sultan bin Abdulaziz Al-Humaidi described it as a strategic leap forward in enhancing the entrepreneurial environment. 'Jada 30' transforms traditional bank branches into dynamic development hubs and business incubators, aimed at nurturing a vibrant entrepreneurial ecosystem. The initiative provides a comprehensive range of services - including financing, training, and mentorship - to help entrepreneurs launch and scale their businesses. Since its launch, 'Jada 30' has hosted in Riyadh more than 300 startups and supported over 5,800 participants, underscoring its tangible impact on youth empowerment and the promotion of a self-employment culture. The event also witnessed the signing of several key development agreements, including a partnership with the General Authority for Awqaf and the Charitable Associations Support Fund to establish a SAR50 million financing portfolio to boost the nonprofit sector. Further, the bank signed two agreements with Arab National Bank and Banque Saudi Fransi to create a combined SAR100 million in financing portfolios aimed at supporting entrepreneurs and emerging enterprises. Additional agreements were inked with Alinma Bank and Arab National Bank to launch a new Freelance Work Card, offering freelancers greater access to banking services and financing options.
