Through an agreement signed between the NCB and BRJ, the NCB assigned Bab Rizq Jameel Services Company Ltd. to manage the portfolio. According to the agreement, the NCB will be responsible for managing costs of loans, while small projects owners will not pay any fees or interests.

Abdul Karim Abul Nasr, CEO of the NCB, who signed the agreement with Mohammed Abdul Latif Jameel, chief job creator at BRJ, said the key objectives of the agreement include expanding the NCB's support to small projects' owners, helping them start their small projects and removing obstacles that may limit their success.

During the agreement signing ceremony, Abul Nasr said, “The NCB is playing a leading role in institutionalizing CSR work and introducing CSR initiatives that support the national development process through well-planned programs and initiatives. They help in the development of society and reflect positively on sustainable economic, social and environmental development.

“This agreement comes in line with NCB’s diversified job creation programs that launch training programs and marketing opportunities for young men and women, and to help them develop their projects for a brighter future.”

Jameel said the mutual cooperation between the NCB and ALJ Community Initiatives through BRJ is an indication of the increasing cooperation between private sector organizations in the CSR area. Jameel said  the objective is to create effective tools and investment channels for young men and women and empower them to start their small projects.

According to Jameel, this will ultimately help young men and women improve their professional skills and to employ themselves on solid foundations for the benefit of the national economy.

The initiative complements NCB role in providing training to small projects owners on how to start their businesses, and will provide them with the required finance, while expanding the BRJ base.