Saudi Crown Prince Mohammed bin Salman issued a decision appointing Youssef bin Abdullah Al-Bunyan as Chairman of the Board of Directors of the Small and Medium Enterprises Bank.
Muhammad bin Mazyad Al-Tuwaijri previously occupied the position of Chairman of the Board of Directors of the Bank in charge.
Al-Bunyan is currently the Minister of Education, and he previously held several positions, including: Vice-Chairman of the Board of Directors of the Saudi Basic Industries Corporation “SABIC” and its CEO, and Executive Vice-President of Finance, as well as Executive Vice-President of the Strategic Business Unit for Chemicals, in addition to his membership in many From the boards of directors in a number of companies, bodies and committees.
It is mentioned that the Small and Medium Enterprises Bank was established by Cabinet Resolution No. (376) dated 4/7/1442 AH corresponding to 2/16/2021 AD, and its system was issued by Royal Decree No. (M / 46) dated 4/8/1444 AH corresponding to 11/2/2022 AD As one of the development funds and banks affiliated to the National Development Fund, which aims to increase the total loan portfolio for the financial sector, bridge the financing gap, enhance the contribution of financial institutions in providing innovative financing solutions, and achieve financial stability for this vital and important sector.