The Saudi financial institutions extended up to the end of the fiscal year 1424-1425 AH, more than SR 300 billion, contributing to the swift development witnessed by the Kingdom of Saudi Arabia in various fields.
The support extended by the Government to the citizens included assistance and soft interest-free loans through the financing institutions like the Agricultural Bank, the Credit Bank, the Real Estate Development Bank, the Industrial Development Fund and the General Investments Fund.
The Real Estate Fund:
The Real Estate Fund was established in 1395 AH with a capital of SR 250 million for the development of cities and villages. Up to the end of the fiscal year 1424-1425 AH, the Real Estate Fund extended about SR 127 billion worth of loans. These loans led to the implementation of projects of more than 575,000 housing units in various parts of the Kingdom. The Fund also extended SR 5,180,389,895 worth of investment loans.
The Industrial Development Fund:
The Industrial Development Fund was established in 1394 AH with a capital SR 500 million.
Up to the fiscal year 1424-1425 AH, the Fund extended more than SR 48.115 billion worth of loans. These loans contributed to the implementation and expansion of 1,899 industrial projects in various parts of the Kingdom.
The Agricultural Bank:
The Agricultural Bank was established in 1382 AH. The Bank provides farmers with free loans. Up to the end of the fiscal year 1422-1423 AH, the Bank extended about SR 35.5 billion worth of loans in addition to more than SR 12 billion worth of subsidies.
The Saudi Credit Bank:
The Saudi Credit Bank was established in 1391 AH. Up to the fiscal year 1423-1424 AH, the Bank extended more than SR 7,919,638,000 worth of loans. Last year, the capital of the Bank was increased by SR 3 billion. A Royal Order issued recently increased the capital again by SR 3 billion.
The General Investments Fund:
The General Investment Fund was established in 1391 AH. Up to the fiscal year 1422-1423 AH, the Fund extended about SR 64 billion worth of loans to the general establishments and the national companies.
