Financing Saudi SMEs is an increasing focus of large banks

(Dammam, February 23^rd, 2011) - National Commercial Bank (NCB) is confirmed as the Lead Sponsor of the SME Economic Forum 2011. The summit is endorsed by His Royal Highness Prince Mohamed Bin Fahad Al Saud - Governor of Eastern Province, supported by Saudi Arabian General Investment Authority (SAGIA) and organised by naseba and the Asharqia Chamber. The forum takes place on March 29^th - 30^th 2011 at the Asharqia Chamber's headquarters in Dammam.

Adel Al Howar, Senior Executive Vice President and Head of Individual Banking Sector of NCB said, "NCB has grown to be one of the largest financial institutions in the region. Undoubtedly, it is our continuous partnerships with SMEs that have played a significant role in advancing us to pole position. Also, being the largest national bank in Saudi Arabia, taking part in this forum is more of an obligation than an opportunity." Commenting on the current economic climate and the opportunities SMEs have Al Howar added, "Saudi Arabia is one of the least affected countries by the global economic crisis, where the government was successful in staying on course with its development plans. This partly created fresh opportunities for entrepreneur-minded Saudis to setup and invest in new SMEs. The growing government emphasis on this sector, through a number of financial and educational support programs has visibly impacted its growth. NCB will strive to be the driving force of this sector."

"Although the current global and regional economic conditions remain fragile, SMEs are considered to be an opportunity for banks in diversifying their risk. The forum will be instrumental in conveying this fact, and will help banks to modify their policies to better accommodate SMEs in light of local economic dynamics." Al Howar said.

Commenting on the support extended by NCB, Fabien Faure, Managing Director of naseba commented, "This forum plays a crucial role for the SME sector in Saudi. The participation of NCB reflects the support of the Saudi financial sector towards strengthening SMEs in the Kingdom."

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naseba produces, promotes and hosts business summits, professional training courses and business exhibitions targeting executive level attendees across multiple vertical industries. Each event is focused on re-education, networking and creating a 'deal-flow' platform for all participating organisations. Whether the 'deal' is raising capital, vendor sales contracts or sourcing a strategic partner, naseba provides clients with an unprecedented, high-ROI environment for conducting business. An in-house team of experts conduct extensive research in conjunction with recognised thought leaders to ensure that all events are relevant, timely and at the forefront of market and industry trends.

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Since its inception in France in 2002, naseba has organised over 400 events and played host to 58,000 executive delegates globally. Operating from four strategically located offices, naseba has on-the-ground presence in Bangalore, Cairo, Dubai, Kuala Lumpur, Monaco, Riyadh and Singapore.

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