Riyadh, September 07, 2023, The Social Development Bank (SDB) has announced the debut of its improved Jusoor platform brand, along with an expansion of its financing services designed for private sector businesses and entities listed on the Saudi stock exchange. This innovative project streamlines processes for companies looking for finance through SDB. This action by the Social Development Bank (SDB) aims to empower a larger segment of the target beneficiaries to access concessional financing programs and address one of the challenges faced by staff in this sector when seeking funding. It is in line with SDB's digital transformation strategy and its commitment to bolstering contributions to the Kingdom's economic growth and the national transformation envisioned in Saudi Vision 2030. It creates a favorable environment for everyone who works there and expands the application of the sector's entire development strategy to assist economic growth. The Jusoor platform seeks to offer financial services and features in this area that simplify financing and support requests for personnel at targeted businesses and institutions. It wants to develop into a hub for all three industries in the Saudi Arabian Kingdom. Through its initiatives, it aims to increase economic productivity by providing goods, services, and improved financial choices that are in line with the demands of the targeted industries.
By bridging the gap between the SDB and the three sectors through an inventive platform that offers financial solutions specific to their needs, this action represents a substantial advance in the SDB's duties. In order to reflect its influence on society and the labor market and to emerge as a significant economic accelerator, SDB offers chances for growth and diversification in the delivery of financial and non-financial programs and goods.
Over the next three years, SDB has set aside SAR 24 billion in financing for entrepreneurs, small and growing firms, and independent workers. This step will involve the provision of goods and services to enable company owners to run their enterprises, contribute to the national economy, and build a thriving and effective society.
