Saudi Arabia’s fintech firm Tarmeez Capital has rolled out a government-backed billion-dollar financing initiative to support small and medium enterprises (SMEs) in the kingdom.

The SAR 4 billion ($1.067 billion) financing portfolio, launched on Tuesday with Saudi’s SME General Authority (Monsha’at), seeks to provide Shariah-compliant funding solutions, primarily using Islamic Sukuk instruments, to businesses.

The programme is in line with the objectives of Saudi Vision 2030 by enhancing financing opportunities and making it easier for SMEs to grow.

Tarmeez is a debt investment platform that extends Shariah-compliant financing solutions for different types of businesses. As of July 2025, the company has facilitated more than SAR 2 billion in financing schemes.

(Writing by Cleofe Maceda ; editing by Seban Scaria) seban.scaria@lseg.com