Saudi Credit & Savings Bank has agreed to finance 336 small enterprises within its program for supporting and financing small facilities, Masarat. The value of these projects will exceed SR75 million, according to the Saudi Press Agency.

Official spokesman for the bank Ahmad Al-Jabrain said the bank approved the final funding list for 336 projects at a value of SR75,805,139 in the path of emerging enterprises. This path targets projects with a maximum value of SR300,000.

He said approved projects varied between commercial, industrial and services sectors. The chosen projects were both initiated by males and females. The enterprise with the least capital stood at SR61,000, while the maximum funding stood at SR300,000.

He added that the bank focuses on a number of factors during the approval stage; for instance the enterprise should contribute to limiting unemployment, and benefit the sons and daughters of the nation.

The enterprise should provide job opportunities for those who want to set up projects to benefit them.

Saudi Credit & Savings Bank financed 2,013 enterprises during 2013 at a value of half a billion riyals; the number of emerging projects stood at 1,481 at a value of SR323 million.

The bank approved the building of productive families center, Jana, which is affiliated with Suleiman bin Abdulaziz Al-Rajhi Charitable Foundation. The foundation sponsors and supports productive families and small projects with a maximum capital of SR50,000.