Government | Thursday 18 July, 2019 10:55 am |

The Social Development Bank has launched a financial product of up to SR 30,000, with no interest or fees, targeting the most needy widows and divorcees by providing them with funding to help them cope with the costs and burdens of life. "With unlimited support from the Government of the Custodian of the Two Holy Mosques, the Bank is continuously seeking to develop new financing products to serve the targeted segments of the population, to support those families with increased responsibilities for life, to cope with changes To bridge the gap caused by those variables. She added that the launch of this product comes to ensure that women are able to support financial support to overcome the immediate difficulties and develop their standard of living to be part of the vital and productive society, which contributes to improving the quality of life of these target groups, which helps to achieve social well-being, Which will take into account the need for divorcees and widows for support. Currently, they will be able to obtain funding through the CNF product without requiring the presence of children and does not require the provision of a support instrument. Al-Abd Al-Karim said that the product "Kanaf" is available through the website of the bank, where women are entitled to apply after fulfilling the terms and conditions of the family financing. It is useful that the financing is provided without any interest and up to 30 thousand riyals in installments and a repayment period of up to 60 months. The Director General of Partnerships and Marketing emphasized that the Bank is constantly reviewing its terms and conditions and periodically examining the possibility of creating suitable and value-added products to serve the targeted segment of citizens to meet the needs of all target groups without exception. Since its inception in 1391H, the Bank has benefited from 2.6 million citizens and citizens of the Bank's various products and services. The financing has exceeded 105 billion Saudi Riyals in social finance and project financing.