Saudi Arabia’s Social Development Bank (SDB) won the prestigious ‘Corporate Client Initiative of the Year’ – ABF Award at the Asian Banking & Finance event held in Singapore. SDB received this prestigious award for the remarkable work done by its subsidiary ‘Dulani Business Centre’, dedicated to supporting small and micro enterprises across Saudi Arabia.
The award was presented at a special ceremony in Singapore in the presence of over 300 executives from over 200 banks and 40 countries. Social Development Bank (SDB) also received ABF’s “Corporate Client Initiative of the Year” award commemorating the success of ‘Dulaney Business Centre’ in achieving three key milestones. Distinct qualitative achievements, effectiveness in performance and impact achieved on target groups were adopted as criteria.
Through its operations, Dulani Business Center emphasizes the social responsibility of individuals and corporations alike. The Center’s diverse initiatives have influenced the lives of more than 100,000 beneficiaries, with women making up 45% of this population. An array of more than 518 development and training programs, along with the completion of more than 39,000 consultation sessions, have led to an overwhelming satisfaction rate exceeding 90%.
Beneficiaries have seen a marked increase of 48% compared to last year. Multiple studies and monitoring reports validate the effectiveness of Dulani Business Center’s specialized developmental interventions. These cater to diverse domains such as financing preparation programs, e-games, e-commerce, franchising, and more.
Upon receiving the award, Eng. Mr. Ibrahim Al-Rashid, CEO of SDB, remarked, “This award underlines our unwavering commitment to fostering national entrepreneurship. Dulani Business Center excels in providing high-quality developmental interventions, nurturing small businesses, and catalyzing growth in promising sectors. Our team’s diverse expertise fuels the success of entrepreneurs, aligning with the best global practices in the entrepreneurial industry.”
The center, a Saudi government empowerment program, helps community members launch their projects and offers support to ensure success and growth across the country. Online resources, programs, and personalized counseling sessions at the center’s headquarters are among the myriad services offered by the center. The awards committee also considered that these comprehensive initiatives help create more employment opportunities and increase the impact of small and emerging projects on the country’s GDP.
The awarding committee also highlighted the success of SDB and Dulani Business Center’s interventions in reshaping Saudi Arabia’s socio-economic landscape towards non-oil revenue. Observers also underline that the focus on innovation and fostering a socially responsible commitment is empowering small enterprises. This award is considered as a sign that Saudi Arabia is gaining strength to face modern challenges.
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