Feb 06 2013
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BRJ bank rolls 4,757 small projects in Saudi Arabia in '12
Abdul Rahman Al Fihaid, BRJ executive director in Saudi Arabia, said "BRJ males and females divisions have financed 4,757 small projects in diversified fields, such as cartoon waste recycling, private school, aluminum cans, coffee shop for young people, silver and gold products design, wedding dress design, confectioneries and donuts production factory, beauty center and several other projects."
The small projects finance program provides support to young males and females who have existing projects or ideas for new project, feasibility studies and official licenses, and enjoy skills and experience in project management, but they lack financial resources. The program helps them to implement their existing or new projects through loans up to SR150,000.
Al Fihaid said that several young males and females present traditional and repeated ideas, such as an outlet for selling mobile phones, laundries, beauty centers and tailoring workshops. Unfortunately, it is a fact that expatriates are dominating such areas. However, BRJ will continue to finance such projects in the event that the location is appropriate, but the priority will be for outstanding and untraditional projects that depend upon technology and computer software, creativity areas such as writing novels, film production, painting, photography, or other similar projects that contribute to the community and provide more job opportunities for the Saudi young people.
Al Fihaid considered the outstanding and untraditional projects as more serious and disciplined. They are usually based on a firm feasibility study, and the project owner is always fully aware with the details and supervises his project by himself, unlike traditional projects, which are operated by non-Saudis.
Al Fihaid further said BRJ has produced special commercials to promote outstanding and untraditional projects that are based upon creative ideas, in technological, art or literature areas.
Saif Nasir Al Qahtani, one of the program beneficiaries in Al-Khobar and the owner of an entertainment center project, said "when I thought about starting an entertainment center project, I faced the project of finance. BRJ transformed my dream into reality when they financed my project.
Currently, I am generating a good income, and I have created more job opportunities for other Saudi young males."
Huda Abdullah Al Ghamdi, a beneficiary of the program in Dammam and the owner of a restaurant for traditional and Arabian foods said, "I am famous among my relatives and friends that I am a good cook. When I visit one of them, she don't give me food, but she brings the vegetables, meat and other requirements and lead me to her kitchen to cook for her. Then, some of them began to ask me to cook for them when they have guests. They called Chef Huda. The income was good, so I thought about opening a restaurant, where I can really show my talent. I opened my dream restaurant. At the beginning, the income was low, but after a while I became popular among those who love delicious, traditional and healthy food."
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