Abdul Latif Jameel Finance and Social Development Bank Sign Memorandum of Understanding to Support the Kingdom’s Ride-Hailing Sector

Abdul Latif Jameel Finance, a leader in innovative financing solutions and services that is regulated by the Saudi Central Bank (SAMA), has signed a Memorandum of Understanding (MoU) with the Social Development Bank to discuss and explore the opportunity  to establish and manage a dedicated financing portfolio aimed at empowering Saudi citizens to pursue freelance opportunities in the ride-hailing sector.

This MoU affirms Abdul Latif Jameel Finance’s commitment, as a licensed and trusted entity to provide specialized financing solutions, and the Social Development Bank, as a pioneer in enabling social development tools and enhancing the financial independence, to provide innovative financing solutions that focus on facilitating citizen’s access to these solutions and support the ride-hailing sector.

This initiative aligns with the objectives of Vision 2030 by contributing to a thriving economy through expanding freelance opportunities, empowering individuals to generate sustainable income, and strengthening public-private collaboration to deliver meaningful social and economic impact.