Riyadh - Sharikat Mubasher: Micro, small, and medium-sized enterprises (MSMEs) in Saudi Arabia received credit facilities worth SAR 293.4 billion during the first quarter (Q1) of 2024, representing 8.9% of total credit facilities, recent figures revealed.

The monthly bulletin of the Saudi Central Bank (SAMA) showed that banks provided the largest share of credit facilities at SAR 175.7 billion in Q1-24, while finance companies extended SAR 17.6 billion to MSMEs during the same quarter.

Medium enterprises seized the largest share of total credit facilities at SAR 160.5 billion, followed by small enterprises that obtained facilities worth SAR 103.4 billion in Q1-24.

Furthermore, micro-enterprises received credit facilities amounting to SAR29.3 billion during the first three months of 2024.

It is worth noting that MSMEs in Saudi Arabia obtained credit facilities estimated at SAR 275.5 billion in Q4-23.