Saudi crown prince appoints new chairman of Small and Medium Enterprises Bank
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the Board of Directors of the National Development Fund issued a decision appointing Youssef bin Abdullah Al-Bunyan as Chairman of the Board of Directors of the Small and Medium Enterprises Bank (SME Bank).
On this occasion, Al-Bunyan extended his thanks and appreciation to His Highness the Crown Prince and Prime Minister for this confidence, appreciating His Highness’s support for the small and medium enterprises sector to achieve financial stability for this vital and important sector to be a basic pillar for economic development in the Kingdom and an enabler for achieving Vision 2030.
Al-Bunyan is currently the Minister of Education, and he previously held several positions, including Vice-Chairman of the Board of Directors of the Saudi Basic Industries Corporation (SABIC), its CEO, Executive Vice-President of Finance, as well as Executive Vice-President of the Strategic Business Unit for Chemicals, in addition to his membership in many From the boards of directors in a number of companies, bodies, and committees.
It is noteworthy that the Small and Medium Enterprises Bank was established by Cabinet Resolution No. (376) dated 4/7/1442 AH corresponding to 2/16/2021.
Its system was issued pursuant to Royal Decree No. (M/46) dated 4/8/1444 AH corresponding to 11/2/2022 AD as one of the development funds and banks affiliated with the National Development Fund.
The bank aims to increase the total loan portfolio for the financial sector, bridge the financing gap, enhance the contribution of financial institutions in providing innovative financing solutions, and achieve financial stability for this vital and important sector.
