Kafalah signs agreement with Morabaha Marina

The Small and Medium Enterprises Financing Guarantee Program (Kafalah) signed a new cooperation agreement with Morabaha Marina Financing Co., Saudi Press Agency reported.

The deal includes effective initiatives and benefits aimed at developing the small and medium-sized enterprises (SMEs) sector in line with Vision 2030.

Kafalah Director General Homam Hashem said the agreement reflects the program's vision of activating cooperation with SME financing companies with the aim of supporting, strengthening, and stabilizing this sector to achieve high financing rates.

He pointed to the program's interest and keenness to develop partnerships with banks and financing companies, to contribute to financing a large number of SME owners.

Further, Homam stressed that the program continues to sign cooperation agreements with financing companies to leverage the existing and innovative guarantees and services provided by Kafalah.