August 11, 2024 | Riyadh, Saudi Arabia
The Funding Souq team is pleased to announce that we have signed a cooperation agreement with the Kafala Program to enhance investment in small and medium enterprises (SMEs) in Saudi Arabia.
The Kafala Program will guarantee up to 50% of the capital invested by investors in a selected group of our investment opportunities. This means you will get the same targeted returns with half the risk.
We would like to thank the Kafala team for their vision and contribution in supporting the growth of small and medium enterprises.
The objectives of the agreement are:
- To create solutions that enable SMEs to obtain support with a guarantee from the “Kafala” program and to encourage investment through crowdfunding.
- To explore ways of cooperation during the agreement and to identify the possible integration mechanism between the “Kafala” financing guarantee program and Funding Souq, so that the program can motivate enterprises through the platform.
- To accelerate the credit decision process to take less than one business day using the latest technologies and electronic linkage with credit bureaus and electronic signatures through integration with the platforms via technical interfaces.
About Funding Souq:
Funding Souq is SME financing platform & investment platform in Saudi Arabia and with an office in the UAE. By connecting established SMEs with retail and institutional debt investors worldwide, Funding Souq provides accessible small business loans to fuel SME growth and drive economic prosperity Our platform operates in accordance with the principles of Shariah, ensuring that all investment and borrowing opportunities are compliant with Islamic finance principles. We have obtained certification from Dar Al Sharia, a subsidiary of Dubai Islamic Bank, and our in-house Sharia Supervisory Board diligently evaluates each investment opportunity to ensure its compliance empowering them to thrive.
Contact Information
Contact Person: Jowana Alahmadi
Official Website: https://fundingsouq.com/sa/en/
Contact Email Address: support@fundingsouq.com
