Saudi Arabia is pressing ahead with its Vision 2030 reform agenda, focused on empowering individuals, accelerating economic growth, and diversifying income sources. At the heart of this effort stands the Social Development Bank (SDB), which has evolved from a traditional lending body into a key driver of social and economic empowerment.
Over the next three years, the bank plans to inject SAR30 billion ($8 billion) into the national economy. The focus extends beyond numbers: priority is being given to underserved groups, women entrepreneurs, and promising new sectors such as technology and e-gaming, underscoring a commitment to building a sustainable, knowledge-based economy founded on innovation.
SDB’s CEO Sultan Al-Humaidi told Asharq Al-Awsat that the bank continues to develop innovative financing pathways and expand access to savings products, with a goal of reaching 250,000 participants in its “Zood Al-Ajyal” savings program.
The bank’s performance in the first half of 2025 reflects its growing impact. Social financing exceeded SAR1 billion ($266 million), benefiting 20,000 citizens, while more than SAR3.6 billion ($1 billion) was directed toward productive projects and self-employment. In total, over 39,000 individuals and enterprises across the kingdom received support.
According to Al-Humaidi, women have been at the forefront of this growth. He explained that fifty-six percent of financing for small and emerging businesses went to female entrepreneurs, earning the bank international recognition as the Middle East and North Africa’s best financier for women-led businesses for two consecutive years.
SDB is also backing national initiatives in emerging industries, he added. Financing has supported the gaming sector and the National Program for IT Development, aiming to transform entrepreneurial ideas into tangible projects and strengthen Saudi Arabia’s innovation-driven economy.
Tangible Economic Impact
The SDB CEO noted that the bank’s financing has contributed more than SAR200 billion ($54 billion) to GDP since inception and created over 177,000 jobs by the end of 2024. Its support has reached 56,000 small and emerging enterprises, fueling entrepreneurship nationwide.
On the social side, SDB has extended SAR120 billion to more than 3 million citizens, covering essential needs such as marriage and home renovation. The bank has also cultivated a culture of savings through initiatives like “Zood” and “Zood Al-Ajyal,” with over 334,000 savings accounts and deposits exceeding SAR570 million ($152 million) by mid-2025.
Moreover, Al-Humaidi stressed that productive financing remains central to the mission. He explained that since establishment, the bank has disbursed SAR166 billion ($44.2 billion) to more than 10 million Saudis. Small and emerging enterprises have received SAR22 billion in financing, creating 140,000 jobs, while self-employment and family businesses were backed with SAR24 billion, benefitting more than 557,000 individuals.
Non-Financial Support and Innovation
Beyond loans, the bank provides integrated non-financial services. Its “Dulani Business Center” has supported more than 150,000 beneficiaries with guidance from 2,600 volunteer consultants. Another initiative, “Jada 30,” offers incubators and accelerators, with more than 4,000 startups supported across 13 branches, with expansion to 17 planned.
Al-Humaidi noted that roughly 70 percent of the bank’s financing now supports productive projects. He stressed that SDB’s mission is not only to provide funds but also to equip citizens with entrepreneurial skills, promote financial independence, and create a sustainable base for innovation.
Looking Ahead
The bank’s long-term vision is to position itself as a key enabler of Vision 2030, transforming financing into a tool for empowerment and development. Upcoming priorities include expanding developmental financing, maximizing economic and social impact, and supporting strategic sectors such as IT, gaming, and e-sports.
Through specialized portfolios and partnerships with both public and private sectors, the bank aims to strengthen the digital economy and create high-quality jobs for Saudi citizens.
Al-Humaidi added that SDB’s mission is to make financing a powerful tool for economic empowerment, innovation, and entrepreneurship. He pointed that by enabling individuals to translate ideas into successful ventures, the bank hopes to sustain growth, broaden citizen participation, and build a stronger, more inclusive national economy.
