Saudi Arabia’s Social Development Bank grants $1.73bn in financing by Q3 

Strengthening small, medium, and emerging industries is a key goal of Saudi Arabia’s Vision 2030, as the Kingdom works to diversify its economy and reduce its decades-long reliance on crude oil revenues.File
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Updated 16 September 2025
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Saudi Arabia’s Social Development Bank grants $1.73bn in financing by Q3 

RIYADH: Saudi Arabia’s Social Development Bank disbursed SR6.5 billion ($1.73 billion) in financing in the first nine months of 2025, benefiting over 90,000 citizens and enterprises, after extending SR8 billion in 2024. 

Of this, SR2.5 billion supported self-employed practitioners and productive families, reaching 53,000 beneficiaries — including 14,500 in the third quarter, the Saudi Press Agency reported.  

Strengthening small, medium, and emerging industries is a key goal of Saudi Arabia’s Vision 2030, as the Kingdom works to diversify its economy and reduce its decades-long reliance on crude oil revenues. 

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More than SR2.4 billion went to 7,300 small and emerging enterprises, with 2,400 of them financed in the third quarter alone. 

Social financing accounted for SR1.6 billion, benefitting 30,000 people, including 10,000 during the latest quarter. 

Quoting Ahmed Al-Rajhi, minister of human resources and social development and chairman of SDB, SPA stated that “the achievements reflect the effectiveness of the Bank’s strategic directions in empowering individuals and establishments, and providing an attractive labor market for local and global capabilities, in support of the national economy.” 

The report added that more than SR2.4 billion went to 7,300 small and emerging enterprises, with 2,400 of them financed in the third quarter alone. Social financing accounted for SR1.6 billion, benefitting 30,000 people, including 10,000 during the latest quarter. 

Sultan Al-Hamidi, CEO of SDB, said these achievements align with the support the bank receives from Saudi leadership to advance the Kingdom’s comprehensive development. 

He added that the institution will continue serving as a national development enabler through an integrated system of financing and non-financing solutions aimed at empowering entrepreneurs, fostering enterprise growth, and transforming ideas into sustainable projects. 

In December, SDB signed an agreement with Saudi National Bank to launch a financing portfolio to support entrepreneurship in the Kingdom. 

The portfolio, introduced under SNB’s Ahalina program, was set to provide SR10 million ($2.66 million) in funding to entrepreneurs, SPA reported at the time. 

Under the deal, SNB and SDB agreed to strengthen public-private cooperation to boost the Kingdom’s entrepreneurial landscape. 


Saudi Absher platform delivers over $5.3bn in annual economic impact 

Updated 18 December 2025
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Saudi Absher platform delivers over $5.3bn in annual economic impact 

RIYADH: The Saudi government’s Absher digital services platform generates more than SR20 billion ($5.3 billion) in annual economic impact, highlighting the scale of savings created by the Kingdom’s transition from paper-based government procedures to digital services, according to the Ministry of Interior. 

Speaking to Al-Eqtisadiah, Bandar bin Mashari, assistant minister of interior for technology affairs, said the savings reflect broader efficiency gains from digitization. 

This comes as government services previously delivered through manual, paper-driven processes have moved onto a unified digital platform used by millions of citizens and residents. 

“Absher is one of the oldest platforms that has had a direct impact on strengthening the efficiency of spending and in opening new avenues for providing added value services,” said Mashari. 

He said the platform’s economic impact is closely linked to the government’s digital transformation agenda, which aims to reduce operational costs while improving service delivery across public agencies. 

The assistant minister further stated that the economic impact was at SR17 billion and grew to SR20 billion according to the ministry’s latest data. 

He added that Absher has completed a shift in its financial structure, transitioning from direct state capital funding to a sustainable financing model based on self-generated income. 

Mashari also said the Ministry of Interior is moving to expand its digital capabilities beyond service delivery, with a focus on security and financial protection. 

Authorities are working toward building a secure digital ecosystem designed to combat financial fraud and crime, he said, as digital transactions and online government services continue to expand. 

Absher is the flagship digital services platform of Saudi Arabia’s Ministry of Interior and one of the Kingdom’s earliest large-scale e-government initiatives. 

Launched in 2010, the platform provides citizens, residents, visitors, and businesses with access to hundreds of government services through a unified digital portal and mobile application. 

Its services span civil affairs, passports, residency and visa services, as well as traffic and vehicle transactions, and business administration, significantly reducing the need for in-person government visits. 

Absher is widely used across the Kingdom, handling millions of electronic transactions each month and serving as a core pillar of Saudi Arabia’s broader digital transformation and Vision 2030 agenda.