SDB wins Corporate Client Initiative of the Year at ABF Corporate and Investment Banking Awards 2023

Its impactful initiative transforms the financial landscape, driving socio-economic growth.

Social Development Bank has long been enabling social development tools and enhancing the financial independence of entrepreneurs. The bank further demonstrated its dedication to innovation and progress as it was honoured with the prestigious Corporate Client Initiative of the Year - Saudi Arabia award at the ABF Corporate and Investment Banking Awards 2023.

SDB, which aims to create social development, a vibrant society, and overall economic growth via financial and non-financial services, was given the accolade as a testament to its exceptional commitment to spearheading impactful initiatives and revolutionising the financial landscape. On top of that, it also provides targeted and effective savings programmes.

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At the heart of this well-deserved honour lies the SDB’s trailblazing Dulani Business Center initiative, which is dedicated to fostering economic growth and entrepreneurs empowerment.

The Dulani Business Center, established after extensive research and drawing upon SDB's vast financial expertise, is guided by a strategic roadmap comprising five pillars. This initiative arose in support of entrepreneurs and small and micro enterprises whilst aiming to develop innovative financing products and opportunities that cater to the diverse needs of entrepreneurs, small businesses, the non-profit sector, and financial analysis.

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To ensure a successful launch of the Dulani Business Center, SDB identified the most crucial pillars of the initiative, which were represented in initiative purpose, objectives, approach, and impact. Leveraging the findings, SDB developed the Dulani Business Center as one of its initiatives aligned with the Kingdom of Saudi Arabia's Vision. The initiative aims to increase the role of entrepreneurs, micro, and small enterprises in the economy, empower non-profit organisations and citizens, enhance women's participation in the labour market, and provide tailored savings products for entrepreneurs.

Since its inception in early 2016, the Dulani Business Center has achieved significant milestones, positively impacting the Saudi Arabian community through its various qualitative activities. The centre has spearheaded digital initiatives, conducted CSR campaigns, facilitated volunteer work, empowered entrepreneurs, and driven positive change.

The Dulani Business Center has also achieved remarkable accomplishments in driving economic growth and empowering the community in Saudi Arabia. It serves more than 100,000 entrepreneurs and business owners, 45% of which are female entrepreneurs. It has organised 237 training programmes and 282 workshops attended by thousands of beneficiaries, providing them with valuable knowledge and skills.

The centre's commitment to guidance and support is evident in the over 39,000 consultation sessions conducted, offering personalised assistance to individuals seeking advice. This dedication has resulted in a 48% increase in the total number of beneficiaries compared to the previous year, highlighting the centre's growing impact.

Notably, the Dulani Business Center has provided significant financial aid, supporting entrepreneurs and contributing to their economic well-being. Moreover, the activation of professional volunteering programmes has generated in 2022 a direct economic value of SR1.25m, engaging 1,621 volunteering consultants who dedicated time and effort to assist entrepreneurs across various fields.

The centre's efforts have been met with high satisfaction, as indicated by a 90% satisfaction rate amongst beneficiaries. In 2022, over 16,000 female entrepreneurs have received quality services, including workshops, consultations, lectures, and qualification programmes, contributing to their growth and success.

These remarkable achievements demonstrate the significant impact and success of the Dulani Business Center in driving economic growth and empowering the community. Through its tailored financial services, guidance, and support, the centre has made substantial contributions to the realisation of the Saudi Vision 2030.

The SDB's consistent dedication to revolutionising the financial sector serves as an inspiring model for institutions aspiring to drive meaningful change. The recognition of the ABF Corporate and Investment Banking Awards 2023 is another step towards a promising future where the SDB continues to lead the charge in pioneering initiatives that redefine the boundaries of success and empowerment.