Bab Rizq launched the productive household program for females who want to start their own micro project. This program is based on a group finance principle whereby a loan is provided to a group of females who have different businesses. We provide interest-free loans ranging from SR 1,000 to SR 5,000 to assist females in developing their project, increasing their income and increasing the number of workers involved in the project. Started in mid 2004, this program has financed more than 75,000 females throughout the Kingdom.
Terms of Microfinance Projects Program
1. The female applicant must own an existing project, has experience in a certain field or intends to start a project, but she lacks finance
2. The group of females should consist of five Saudi females. One non-Saudi female could be accepted in the group, provided that she holds a regular residence permit (In the first stage only)
3. The group should be living in the same district or within a specific geographical area
4. Group members for all loans should be between 18 to 65