Kafala Program
We are one of the largest Saudi banks in terms of the value of Kafala guarantees we provide to MSME clients, just like you. Our Kafala program allows MSMEs to assess the finance they need to develop and grow their business.
What is the Kafala Program?
The Kafala program is designed to help MSMEs flourish by providing them with the necessary finances to expand their operations.
Program Objectives
Kafala Purposes
Non-Funded Facilities
Non-Funded Facilities:
1) Letters of Guarantee (Bid Bond/Final/Financial/Advance Payment)
2) Letters of Credit (Sight/Deferred)
Funded Facilities
Funded Facilities:
1) Working Capital finance (short-term - less than a year)
a. Bill proceeds financing
b. Operating expenses financing
2) CAPEX financing (medium term - from 1 to 3 years)
a. Financing the purchase of machinery and equipment
b. Financing the opening, equipping, and expansion of new branches
Kafala Financing Process
01
Apply online to SNB with the required documents.
02
We process your request.
03
After approving the requested finance, we apply to SIDF for the issuance of a Kafala guarantee and request a written approval from you accepting the Kafala program.
04
After evaluating your request and verifying that it adheres to the program policies, the SIDF will issue or refuse the required Kafala to us.