Turn on more accessible mode
Turn off more accessible mode
Home
|
Media Center
|
Careers
Personal
Accounts
Loans
eBanking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
Tutorials
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Awards
BBK awarded for distinguished Corporate Governance practices
Bahrain’s pioneer in commercial and retail banking
BBK wins first place for excellence in Corporate Governance practices
BBK wins Bahrain eContent Award
BBK newsletter
CINET
BBK Press releases
Latest News
Archives
Financial News
Latest News
Archives
Internet Banking
Retail login
Help
|
Alert
What do you want to do?
Select here
Access Retail Internet Banking
Home
Media Center
Financial News
Archives
Archives
23-01-23
SAMA lowers minimum paid-up capital for economics companies aiding SMEs
(MENAFN) The Saudi Central bank, also known as SAMA, has declared adding a subtitle to a current law, which lowers the lowest paid-up capital for finance companies dedicated in economic and promoting small and medium enterprises to SR50 million (nearly USD13.3 million), as mentioned in an announcement.
SAMA stated that the adjustment made to the Implementing Regulation of the Finance Companies Control Law cements its attempts to additionally improve Saudi Arabia’s SME industry.
The additional modification is going to also support draw further financers to the nation’s SME industry and create more finance firms focusing in financing SMEs.
“As Saudi Arabia looks to diversify its sources of revenue, grow its non-oil-based economy and increase the contribution of SMEs and the industrial sector to the GDP, supporting emerging industrial enterprises in the country will be vital,” as stated by Omar Alhalabi, director of the Global Strategy Group at KPMG in Saudi Arabia.
MENAFN23012023000045014228ID1105464329
View complete sitemap
Personal
Accounts
Loans
Mortgage
eBanking
ATM
Internet Banking
SMS Banking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
BBK tariffs
Tutorials
Customer Protection
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Follow us