Exclusive Interview: Kafalah CEO Unveils Game-Changing Initiatives at Biban24
In an exclusive interview at the Biban24 Forum, Hamam Al-Hashim, CEO of Saudi Arabia’s Small and Medium Enterprises Loan Guarantee Program (Kafalah), shared new initiatives for SMEs. He discussed the program’s latest efforts to strengthen support for small and medium-sized enterprises across Saudi Arabia. Al-Hashim emphasized the importance of enhancing services to better serve entrepreneurs and business owners in the Kingdom.
“We constantly improve our products and services to better meet the needs of our audience, especially SMEs and entrepreneurs,” Al-Hashim said. He emphasized that Kafalah continues to evolve to stay accessible and responsive to the growing needs of the sector.
New Product for the Healthcare Sector
One of the most notable initiatives from Kafalah is a new product designed for dental clinics. “We launched a special program for dentists with a capital exceeding 190 million riyals. This can be multiplied by up to eight times, allowing us to offer nearly 1.6 billion riyals in financing for dental businesses,” Al-Hashim explained.
Kafalah has also reinforced its support for consulting firms. “We introduced a special line for consulting offices, offering up to 90% guarantees with administrative fees not exceeding 1%. This initiative strengthens growth and stability in the consulting sector,” he added.
Expanding Risk Mitigation for SMEs
Looking ahead, Al-Hashim revealed plans for a new product focused on collaborating with banks and financing companies. “The next phase of Kafalah’s development will involve guaranteeing portfolios for financing companies and banks. This will reduce risks, expand access to funding, and support more businesses,” he stated.
Kafalah also aims to streamline the process of issuing guarantees for small businesses. “Our goal is to issue guarantees for micro and small enterprises within one business day. For medium-sized enterprises, we aim for a three-day turnaround, including study and approval,” Al-Hashim concluded.
With 14 active programs and more in development, Kafalah continues to support the growth of SMEs in Saudi Arabia. The program ensures that essential financial resources are accessible and effective for all businesses.
