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Manashat and STC Bank sign cooperation with 5bn riyal financing
The General Authority for Small and Medium Enterprises ("Monshaat") signed a cooperation agreement with STC Bank to support and finance the small and medium private sector in Saudi Arabia. The agreement focuses on developing and financing the sector's enterprises through a financing portfolio of up to 5 billion SAR, offering short, medium, and long-term financing solutions compliant with Islamic law. The products include facilities for capital finance, asset purchase, e-commerce support, and invoice and supply chain financing, with the aim of boosting the growth and sustainability of small and medium enterprises and achieving the goals of Saudi Arabia’s Vision 2030.
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