Saudi Cabinet approves establishing bank of SMEs -SPA

Saudi Arabia's Cabinet on Tuesday approved establishing the bank of small and medium enterprises, state news agency (SPA) reported.

"The SMEs Bank brings together all financing solutions under one umbrella to enable the small and medium enterprises sector to access appropriate financing and achieve stability and growth," the Ministry of Commerce wrote on Twitter.

"The SMEs Bank to provide all its products and services in digital form without the need to establish branches," state news agency (SPAeconomic) wrote on Twitter.