Kafalah to guarantee 24, 357 financing requests
Since launching the program in 2006 until the end of final quarter of 2021, the program management agreed to cover a number of (24,357) financing requests as per banking sector for (11,749) SMEs by issuing a number (39,755) guarantees, with a total value of guarantees of SAR 37,144 million against a financing credit of a total amount SAR (57,274) million. The total value of guarantees recovered after disbursement SAR (72.3) million, representing (18%) of total disbursed amounts, so the total value of the current net balance of unrecovered guarantees amounted to SAR (322.0) million, representing (0.8%) of the total value of the guarantees issued at the end of the final quarter of 2021. At the end of the final quarter of 2021, the value of valid guarantees was SAR (19,775) million against valid guarantees in an amount of SAR 14,912 million during the same period of previous year, with an increase of (33%) of valid guarantees value.
