Riyadh - Exclusive Sharikat Mubasher: The Saudi financing company Tarmeez Capital inked a cooperation agreement with the Small and Medium Enterprises General Authority (Monsha’at) to allocate a financing portfolio worth SAR 1 billion to support and empower small and medium-sized enterprises (SMEs) in Saudi Arabia, Salem Aljawini, Member of Board of Directors, revealed in an interview with Sharikat Mubasher.

Aljawini noted that the agreement was signed on the sidelines of Biban 2024, Saudi Arabia’s flagship event for startups and entrepreneurs.

The official praised the efforts of the Saudi Central Bank (SAMA) and the Capital Market Authority (CMA), as well as the public and private sectors to foster SMEs by providing an attractive infrastructure to grow and expand.

Aljawini further revealed that Tarmeez Capital’s financing programs surpassed SAR 1 billion within the past 12 months, covering more than 10 different sectors in 12 cities across the Kingdom.

Tarmeez Capital is a leading fintech platform that offers a seamless Shariah-compliant financial experience for enterprises of different sizes through issuing Sukuk.

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.