AHSA: The Saudi Credit and Saving Bank (SCB) is considering whether to fund 13 projects proposed by the Saudi Commission for Tourism and Antiquities (SCTA,) said Turki Bin Muhammad Al-Sudairi, the bank's Director of Programs Administration. Speaking at the Al-Ahsa Chamber of Commerce and Industry's monthly meeting, he said the bank has funded two heritage projects with SR7 million each. They are the heritage houses in Al-Ghat city and a development project of Rijal Alma'a village in Asir. Ten other projects are being funded around the Kingdom at a total cost of over SR6.9 million. He said that an agreement between the bank and an investor in Al-Jouf region involves the establishment of a women's-only market that includes 150 shops. The shops will be rented to willing women or families for nominal amounts of money. The family – or the woman – will be each given SR100,000 as a loan payable through installments over 10 years. There were 44,244 marriage, family and house restoration loans given by the bank during the first half of last year totaling over SR1.6 billion, he said. He said small establishments are facing obstacles including the inability of government officials to recognize the value to the economy of certain proposed projects. Other obstacles are that small investors, especially beginners, do not have proper guidance and support to succeed. There is also a lack of statistics and sufficient information about investment opportunities, the type of opportunities, the size of the market, and the demand in the country's regions, he said. Furthermore, some investors have experienced lengthy delays at government departments, he added.
