Saudi Arabia’s Social Development Bank was recently honored with the Princess Sabika bint Ibrahim Al-Khalifa Award for Productive Families. SDB’s “Tajsid” initiative won this recognition under the category “Best Project Supporting Productive Families.” The award ceremony took place in Manama, the capital city of Bahrain, and was hosted by Princess Sabika bint Ibrahim Al-Khalifa. It was attended by numerous dignitaries and organizations from Bahrain and across the Arab world.
The “Tajsid” initiative stands out as a key program of SDB, aimed at empowering Saudi artisanal families by providing them with permanent sales outlets. This initiative not only showcases unique Saudi cultural products, but also enhances the visibility and marketing capabilities of these artisanal items. More than 150 families have benefited from the initiative, achieving sales exceeding SR1 million ($266,630) from over 20,000 products sold through three main branches and an e-commerce platform. Additionally, these families have gained exposure through participation in 25 local and international exhibitions.
Sultan Al-Humaidi, CEO of SDB, expressed his gratitude, saying: “We are immensely proud to receive this accolade from Princess Sabika bint Ibrahim Al-Khalifa, which acknowledges our efforts in fostering the development of small businesses and self-employment into thriving, sustainable enterprises. Our initiatives, such as the ‘Tajsid’ program, are designed with a long-term strategy to empower, innovate, and integrate productive families into the broader economic landscape.”
Al-Humaidi further highlighted the growth of the SDB’s impact, noting: “In the first quarter of this year alone, we have supported 13,000 beneficiaries, with financial assistance amounting to over SR600 million, marking a 61 percent increase compared to the same period last year. Our ongoing commitment aligns with Saudi Vision 2030, aiming to enhance the sustainability and economic independence of productive families and entrepreneurs.”
The Princess Sabika bint Ibrahim Al-Khalifa Award for Productive Families, established in 2009, is one of the main awards for recognizing and supporting the Arab world’s productive families, encouraging high-quality production and comprehensive support from financial and economic institutions.
