Monsha’at, Tarmeez Capital earmarks SAR 1 bn to empower entrepreneurs

user icon
NOHA.GAD
calender icon
Nov 10, 2024
article image

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.


Share

Related News

FlyAkeed secures SAR 94 mn to accelerate local, regional expansions
News
Calendar Icon
September 3, 2026
FlyAkeed secures SAR 94 mn to accelerate local, regional expansions
Read More
Enhance raises $18.2mn to power US expansion
News
Calendar Icon
September 2, 2026
Enhance raises $18.2mn to power US expansion
Read More
COFE Tech closes pre-IPO funding at $178mn valuation
News
Calendar Icon
September 2, 2026
COFE Tech closes pre-IPO funding at $178mn valuation
Read More
Remedium Network secures $1.5mn to advance AI-powered carbon management tools
News
Calendar Icon
September 1, 2026
Remedium Network secures $1.5mn to advance AI-powered carbon management tools
Read More
QIA leads $200mn Series D round for US-based Gatik
News
Calendar Icon
August 26, 2026
QIA leads $200mn Series D round for US-based Gatik
Read More
Stellaria raises $6.8mn seed round to expand technical capabilities
News
Calendar Icon
August 26, 2026
Stellaria raises $6.8mn seed round to expand technical capabilities
Read More
SAL secures SAR 2.5bn financing for Saudi Logistics Zones
News
Calendar Icon
August 25, 2026
SAL secures SAR 2.5bn financing for Saudi Logistics Zones
Read More
Raff closes $1.7mn pre-seed funding to fuel regional expansion
News
Calendar Icon
August 25, 2026
Raff closes $1.7mn pre-seed funding to fuel regional expansion
Read More
Fasset raises $68mn in series C round
News
Calendar Icon
August 24, 2026
Fasset raises $68mn in series C round
Read More
Saudi Arabia lands 72 VC deals in H1-26, claiming 34% of MENA's total
News
Calendar Icon
August 23, 2026
Saudi Arabia lands 72 VC deals in H1-26, claiming 34% of MENA's total
Read More