The Bank of Industry and Mine (BIM) recognizes the needs of the country’s small and medium enterprise (SME) sector in order to thrive and become sustainable. In response to these needs, BIM Chairman of the Board and Managing Director, Mr. Ali Ashraf Afkhami, has given specific attention to the sector via the provision of easy access to finance. As such, BIM has set up a department that caters to the needs of the SMEs.
The SME Department has been supporting the SMEs by training them to manage their businesses as well as providing them consultation, financing, and legal advice. In addition, BIM has been providing loan facilities to applicants who passed the review and evaluation process based on their effectiveness and eligibility. To date, more than 3,000 SMEs have been financed by the Bank amounting to 50,000 Billion Rials.