BIBAN-GLOBAL
The Kafalah Program officially announced a partnership with a diverse selection of Saudi-based entities, pledging up to $1.5 billion in financing guarantees for the Kingdom’s burgeoning community of startups and small and medium-sized enterprises (SMEs).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230311005040/en/
Biban 23 is focused on fostering tangible opportunities for global entrepreneurs and investors (Photo: AETOSWire)
The announcement was made on the second day of Biban 2023, with the Kafalah Program — the leading loan risk guarantee program in the Kingdom and one of the largest loan risk guarantee programs in the region — fully aligned with the goals of Vision 2030.
The program’s $1.5 billion pledge was announced in conjunction with the signing of several agreements focused on developing the Saudi Arabian SME space.
This includes the Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia’s (Monsha'at) partnership with two of the world’s leading enablers of regional entrepreneurship.
In line with the Kingdom’s economic diversification, Monsha’at has signed a Memorandum of Understanding (MoU) with Oman’s SME Development Authority. The agreement will bring Monsh’aat and the SME Development Authority together to enhance the SME ecosystem in Saudi Arabia and Oman, promoting trade and entrepreneurship between both countries.
Monsha’at also signed an MoU with the Visa International Service Association (VISA). As part of the agreement, both parties will collaborate to enhance joint-cooperation and support VISA’s “She’s Next” initiative: a female empowerment program established to equip female entrepreneurs with the tools to grow their businesses. The initiative support Saudi businesswomen in achieving their objectives and attaining sustainable success.
Worth over $1.5 billion, these partnerships join the wide-ranging agreements launched at Biban 2023. Bringing entrepreneurs, SME owners, investors, and policymakers from around the world together, the event — taking place from March 9 to March 13, 2023.
Saud Alsabhan, Vice Governor of Monsha’at for Entrepreneurship, said: “At a time when innovation has never been more important to overcoming persistent global challenges, safeguarding the future and creating a greater, more prosperous Saudi Arabia, Biban continues to provide some of the world’s leading business minds a fitting platform to network, collaborate and create."
He continued: “In just two days, we have brought changemaking entities and innovators together to launch landmark agreements that will enhance the Kingdom’s SME ecosystem, bolster the national economy, and secure our future.”
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230311005040/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Capcom’s Resident Evil Requiem, the Latest Title in the Series, Also Coming to Nintendo Switch 2 on February 27, 2026!16.9.2025 15:00:00 CEST | Press release
– Additionally, two other Resident Evil series titles to be released for the console on the same date in step with Capcom’s multi-platform strategy – Capcom Co., Ltd. (TOKYO:9697) today announced that Resident Evil Requiem, the latest title in the Resident Evil series scheduled for release on February 27, 2026, for PlayStation®5 system, Xbox Series X|S, and PC, will also be released for Nintendo Switch™ 2 at launch. In addition, Resident Evil 7 biohazard and Resident Evil Village, two other titles in the series, will also be released for Nintendo Switch 2 on the same date. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250916064724/en/ Resident Evil Requiem Key Art Resident Evil Requiem is a survival horror game that serves as the ninth main installment in the series. The title is being developed using RE ENGINE, Capcom’s proprietary game engine, and leverages Capcom’s extensive development experience cultivated over numerou
Aker BP Leverages Cognite Atlas AI™ to Pioneer an AI-First Future in Exploration and Production16.9.2025 15:00:00 CEST | Press release
Human insight and autonomous agents work together to transform operations, enhance efficiency, improve safety, and unlock new value across the enterprise. Aker BP, one of Europe's largest independent oil companies, and Cognite, the global leader in industrial AI, deepen their strategic partnership through the expanded adoption of Cognite Atlas AI™,harnessing the power of AI agents to improve efficiency, reduce costs, and elevate productivity. This enhanced collaboration puts Aker BP at the forefront of leveraging agentic AI to drive significant value and transform its operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250903134233/en/ Aker BP Leverages Cognite Atlas AI™ to Pioneer an AI-First Future in Exploration and Production Aker BP's "AI-first strategy" was developed to help lead the energy sector into a data-driven future by seamlessly integrating AI applications within industrial settings and business objectiv
GlobalPlatform to Drive Next Phase of Growth for PSA Certified, Accelerating Security Adoption16.9.2025 15:00:00 CEST | Press release
Founded by Arm and industry partners, PSA Certified will continue to evolve under GlobalPlatform’s governance as the trusted global standard for secure connected devices GlobalPlatform announced today it will assume governance of PSA Certified, the global security certification scheme launched by Arm and key partners in 2019. In this next phase of growth, GlobalPlatform—the global standards organization for secure digital services and devices—will drive further collaboration, broader industry participation, and greater regulatory alignment for PSA Certified. Since its launch, PSA Certified has become a globally adopted framework that helps manufacturers and developers build secure connected products based on a Root of Trust. It aligns key security components—such as device identity, cryptography, attestation, and secure boot—with certification needs, regulatory requirements, and global best practices. To date, more than 250 products — spanning silicon, software, and devices—have been c
Moody’s Agentic Solutions to Automate Complex Workflows and Speed Human Decision-Making16.9.2025 14:00:00 CEST | Press release
Moody’s today announced Agentic Solutions, a groundbreaking addition to its suite of AI-powered offerings designed to transform how organizations make decisions in complex, high-stakes environments. The new solutions empower organizations to act with greater speed, precision, and confidence than ever before, reshaping how risk is decoded, opportunities are identified, and decisions are made. “For over a century, our customers have looked to Moody’s for premium data, trusted insights, and cutting-edge solutions to help them make better, more informed decisions,” said Rob Fauber, President and CEO of Moody’s. “Agentic Solutions is a natural extension of our legacy of investment and innovation – anchored in the strength of our industry leading data-estate and the depth of our people’s analytical skills. By integrating agentic capabilities into the workflows of our customers, we are supercharging the speed and precision at which we can help our customers understand risk and unlock opportun
Takeda and VELA to Ship Medicines Across the Atlantic Using First-of-its-Kind Wind-Powered Trimaran16.9.2025 14:00:00 CEST | Press release
VELA to operate the world’s first sailing cargo trimaran powered by 100 percent wind when at sea1 to sail between Europe and the U.S.Takeda to become the first biopharmaceutical company to ship its products on VELA’s wind-powered trimaran, starting a new era of sustainable shipping in pharma Takeda (TSE:4502/NYSE:TAK) and VELA Transport today announced their business partnership, with Takeda set to become the first biopharmaceutical company to transport its products between Europe and the U.S. using VELA’s first-of-its-kind sailing cargo trimaran. VELA designed and will operate a fleet of new generation sailing cargo vessels, powered 100 percent by wind when at sea. Purpose-built to handle pharmaceutical products, VELA will offer reliable, secure and ultra-low-emission sea freight shipping. The maiden voyage is planned for late 2026. VELA’s new wind-powered sea freight will offer a climate-conscious alternative to other transportation for the pharmaceutical industry – cutting use-relat
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom