COVID-19: Saudi Arabia’s Shura Council Requests for Expansion in Loan Guarantees to Facilitate Economic Recovery

At a virtual meeting held on the 20th of May 2020 between the Saudi Shura Council and the Kafalah Fund (Fund), strategies to overcome the impact of COVID-19 were discussed at large.

Key participants in the aforementioned virtual meeting included Dr. Faisal Al Fadel, Chairman of the Shura Council’s Economic and Energy Committee and the Chief Executive Officer of the Kafalah Fund, Homam Hashem.

The meeting focused particularly on small and medium enterprises (SMEs) that were receiving support from the Fund.

One of the main discussion points was the importance of the Fund in dealing with non-payment of loans by the SMEs, with the Shura Counc...