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SMEs Benefit from Tawreed Invoice Payments
Saudi Arabia has launched the "Tawrid" financing platform, primarily aimed at supporting small and medium-sized enterprises. It enables them to make early payments on their approved invoices through a digital platform that connects companies, banks, and financiers. This service helps improve liquidity and facilitates working capital management, especially during periods of expansion or when quick financing is needed, allowing suppliers to receive their payments before the original due date. The platform has already begun operations after receiving approval from the Saudi Central Bank (SAMA), and it has signed agreements with several major banks and companies. Additionally, SAMA is developing a broader regulatory framework this year to foster greater growth in this sector. While specific details regarding financing percentages and costs have not yet been disclosed, the platform plays a significant role in advancing the digital financing environment and reducing wait times for receivables among small and medium-sized businesses.
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