Social Development Bank
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Name in Arabic:
بنك التنمية الاجتماعية
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Country:
Saudi Arabia
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Phone:
+966-92-000-8002
Email:
[email protected]
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Email:
[email protected]
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Website:
https://www.sdb.gov.sa/
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Founding Date:
1971
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Social media
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General information
The Social Development Bank was established in 1971 by Royal Decree under the name Credit Bank, with a mandate to provide social financing.
Today, The bank is one of the Kingdom of Saudi Arabia's key development institutions. Since its establishment, it has undergone significant transformations.
The Bank plays a key role in advancing social and economic development, by providing a comprehensive range of financial and non-financial solutions, savings and financial awareness programs, as well as capacity-building initiatives and workshops for entrepreneurs and micro & small businesses, These efforts aim to empower beneficiaries, strengthen their capabilities, enhance productivity and economic participation, and support sustainable social and economic development.
The bank's activities include financing individuals and families, supporting micro and small businesses, empowering productive families and freelancers, financing the non- profit sector, and providing a range of empowerment, development, financial, and business advisory services.
Since its establishment, the bank has undergone several stages of development and transformation. In 1983, its mandate was expanded to include professional financing. In 2007, it was renamed Saudi Credit and Savings Bank, with an expanded mandate to finance small and emerging businesses and promote a culture of savings. In 2016, the Council of Ministers approved changing its transformation into the Social Development Bank, further expanding its role in advancing social development and promoting financial inclusion.
Today, the bank offers a comprehensive range of financing solutions, savings programs and non-financial services designed to empower the beneficiaries, strengthen their capabilities, support business growth and enhance long-term sustainability.
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