LONDON: To help boost the financing of small and medium enterprises (SMEs), the National Commercial Bank (NCB) has signed a memorandum of understanding with the Saudi Basic Industries Corporation (SABIC).
Asharq Al-Awsat newspaper reported that the move will help to develop local industries through financing and refinancing entrepreneurs.
To obtain support and funding from National Commercial Bank at preferential rates, the agreement will enable small and medium enterprises (SMEs) and entrepreneurs. National Commercial Bank will also provide other services, including training and educational and awareness courses in addition to this.
For covering areas such as credit approvals, financing, and trade, National Commercial Bank recently organized three workshops geared towards small and medium enterprises (SMEs).