Crown Prince Approves Renewal of Yousef Al-Benyan as Chairman of SME Bank Board

📷SPA

Riyadh, October 19 (Saudi Arabia Breaking News) – His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, and Chairman of the National Development Fund (NDF), has approved the renewal of the membership of Yousef bin Abdullah Al-Benyan as Chairman of the Board of Directors of the Small and Medium Enterprise Bank (SME Bank) for a three-year term starting from 3/6/1447 AH, the Saudi Press Agency (SPA) reported.

On this occasion, Al-Benyan expressed his gratitude and appreciation to His Royal Highness the Crown Prince for his trust and continued support for the small and medium enterprise sector, which he said plays a vital role in strengthening the national economy and achieving the goals of Saudi Vision 2030.

He emphasized that the unwavering attention the wise leadership has devoted to the SME sector has driven its growth and stability, noting the sector’s expansion and the steady rise in financial facilities provided over recent years.

Al-Benyan affirmed that the SME Bank Board remains committed to supporting small and medium enterprises, increasing their contribution to GDP, promoting financial sustainability, and advancing the Kingdom’s economic development.

Established by Cabinet resolution, the SME Bank operates under the umbrella of the National Development Fund, with the mandate to expand lending within the financial sector, bridge financing gaps, strengthen institutional participation, and introduce innovative financing solutions that promote stability and growth in this vital segment of the economy.