Riyadh - Exclusive Sharikat Mubasher: Mekyal Financial Technologies Company, a leading player in the Saudi fintech industry, signed an agreement with the Small and Medium Enterprises General Authority (Monahs’at) to offer financial products and solutions worth SAR 800 million to support small and medium-sized enterprises (SMEs) in the Kingdom, CEO Hesham AbouJamee told Sharikat Mubasher on the sidelines of Biban 2024.

He noted that the company also agreed with Monsha’at to provide significant discounts on administrative fees during Biban 2024, the flagship event for startups and entrepreneurs in Saudi Arabia.

AbouJamee clarified that Mekyal Financial helped companies increase their value by five times within the past few years through the equity crowdfunding solution.

He added that the company participated in Biban 2024 to showcase its Sukuk crowdfunding product.

The CEO further hailed Monsha’at’s efforts to organize Biban 2024, with the participation of more than 1,000 companies.

Mekyal Financial is licensed by the Saudi Capital Market Authority (CMA) to engage in securities activities, enabling investors to participate in financing medium and small companies in exchange for a share in their stocks

Biban 2024, organized by the Small and Medium Enterprises General Authority (Monsha’at), convened in Riyadh from 5 to 9 November, with the participation of more than 1,350 local and international exhibitors, over 250 speakers, and more than 150 enablement entities from around the world.

It targeted creating a stimulating environment, raising administrative, financial, and technical competencies, and motivating the owners of ideas to launch their projects by allowing them to meet with local and global experts and share knowledge with key decision-makers and investors.