Social Development Bank hits another milestone

SDB received ABF’s “Corporate Client Initiative of the Year” award, commemorating the success of the Bank’s Dulani Business Center…reports Asian Lite News

The Social Development Bank (SDB) has been honored by Asian Banking & Finance (ABF) — the leading industry organization serving Asia’s financial services sector — for its commitment to empowering small and micro-enterprises across the Kingdom of Saudi Arabia via Dulani Business Center, an SDB-affiliated that provides incubation, capacity building and care for small and micro enterprises.

At a special ceremony held in Singapore, in the presence of over 300 executives from more than 200 banks and 40 countries, SDB received ABF’s “Corporate Client Initiative of the Year” award, commemorating the success of the Bank’s Dulani Business Center in achieving three main standards: distinctive qualitative achievements, effectiveness in performance, and finally the achieved impact on the target groups.

The center has also helped to raise greater awareness of the social responsibility of individuals, entities and enterprises across the Kingdom, calling attention to how they can contribute to and transform society and the national economy for the better. Dulani Business Center’s initiatives have benefited over 100,000 individuals, with 45% of them being women. These initiatives encompassed over 518 development and training programs, along with conducting more than 39,000 consultation sessions, achieving a satisfaction rate exceeding 90%.

The total number of beneficiaries has increased 48% compared to the previous year. Studies and monitoring reports prepared by Dulani Business Center validate the effectiveness and impact of specialized developmental interventions. These developmental interventions encompass various areas, including financing preparation programs, as well as specialized programs in sectors like e-games, e-commerce, franchising, and so forth.

Eng. Mr. Ibrahim Al-Rashid, CEO of SDB, said: “Winning the award was the result of the emphasis on national entrepreneurship and the necessity to effectively support it. Dulani Business Center serves this purpose through high-quality developmental interventions, which involve nurturing small enterprises, exploring opportunities in established sectors, accelerating the growth of promising industries, and providing a diverse range of experiences. Our team comprises specialists from various industries who contribute to the success of both male and female entrepreneurs. This award serves as a testament to the efficiency of our operations and their alignment with international best practices in the entrepreneurial industry, empowering entrepreneurs to thrive.”

The center is recognized as one of the pioneering government empowerment programs designed to assist the community in initiating their own projects and fostering their success and growth across all regions of the Kingdom. It offers a range of services, including online resources, programs, and in-person advisory sessions at the center’s headquarters. These comprehensive offerings aim to create a positive impact by generating more job opportunities and enhancing the contribution of small and emerging projects to the Kingdom’s GDP.

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