The Social Development Bank (SDB) has received the Asian Banking and Finance Award 2023 for its commitment to empowering small and micro enterprises across the Kingdom of Saudi Arabia via Dulani Business Center, an SDB-affiliate that provides incubation, capacity building and care for small and micro enterprises.
At a ceremony held in Singapore in the presence of over 300 executives from more than 200 banks from 40 countries, SDB received the ABF “Corporate Client Initiative of the Year” award, testimony to the success of the Dulani Business Center in achieving distinctive qualitative achievements, effectiveness in performance, and the desired impact on the target groups.
The center has also helped raise greater awareness about social responsibility of individuals, entities and enterprises across the Kingdom, calling attention to how they can contribute to and transform society and the national economy for the better. Dulani Business Center’s initiatives have benefited over 100,000 individuals, 45% of them women. Its initiatives included over 518 development and training programs, and more than 39,000 consultation sessions, with a satisfaction rate exceeding 90%.
The total number of beneficiaries so far this year has increased by 48% compared to the previous year. Studies and reports prepared by Dulani Business Center validate the effectiveness and impact of specialized developmental interventions. These developmental interventions encompass various areas, including financing preparation programs, as well as specialized programs in sectors like e-games, e-commerce and franchising.
SDB CEO Ibrahim Al-Rashid said: “Winning the award was the result of the emphasis on national entrepreneurship and the necessity to effectively support it. Dulani Business Center serves this purpose through high-quality developmental interventions, which involve nurturing small enterprises, exploring opportunities in established sectors, accelerating the growth of promising industries, and providing a diverse range of experiences. Our team comprises specialists from various industries who contribute to the success of both male and female entrepreneurs. This award serves as a testament to the efficiency of our operations and their alignment with international best practices in the entrepreneurial sector, empowering entrepreneurs to thrive.”
The center is recognized as one of the pioneering government empowerment programs designed to assist the community in initiating their own projects and fostering their success and growth across all regions of the Kingdom. It offers a range of services, including online resources, programs and in-person advisory sessions at the center’s headquarters. These comprehensive offerings aim to create a positive impact by generating more job opportunities and enhancing the contribution of small and emerging projects to the Kingdom’s GDP.
Source: Saudi Press Agency