Monsha’at, STC Bank sign $1.33bn financing deal to support Saudi SMEs

The General Authority for Small and Medium Enterprises (Monsha’at) and STC Bank have signed an agreement that will provide up to 5 billion riyals (approximately $1.33 billion) in Shariah-compliant financing for Saudi Arabia's micro, small, and medium-sized enterprises (SMEs). This initiative, aimed at enhancing the entrepreneurship ecosystem, will support various sectors with financing options for working capital, assets, and e-commerce, while contributing to the sector's growth and economic diversification under the Vision 2030 plan.