The startup and entrepreneurship conference Biban 2025 opened in Riyadh with the signing of financial agreements worth six billion US dollars.
The event began with eight major financial deals between the Small and Medium Enterprises General Authority (Monsha’at) and several national banks. The agreements aim to support small and medium-sized enterprises (SMEs) across Saudi Arabia and empower both male and female entrepreneurs.
Monsha’at signed a 1.3 billion dollar agreement with Riyad Bank and a one-billion-dollar deal with Al Rajhi Bank. Arab National Bank signed an agreement worth 533 million dollars, while Alinma Bank and AlJazira Bank each entered deals valued at 266 million dollars. Saudi Fransi Bank signed a 700 million dollar agreement and Saudi National Bank finalized a memorandum of understanding worth 1.3 billion dollars. Albilad Bank announced a financing portfolio of 773 million dollars.
Officials said the agreements are designed to create a competitive financing environment and enable SMEs to take a more active role in national economic growth. The initiative aligns with the objectives of Saudi Vision 2030, which seeks to increase the contribution of the SME sector to the Kingdom’s gross domestic product.
Brazilian football star Kaká received by Monsha’at Governor Sami Ibrahim Al Husseini at the Biban Forum, Riyadh
Brazilian football star Kaká also attended the forum and was welcomed by Monsha’at Governor Sami Ibrahim Al Husseini. The opening day featured a series of sessions and networking programs focused on innovation, entrepreneurship and SME development.