Abdul Karim Abul Nasr, NCB CEO, signs the agreement with Engineer Mohammed Abdul Latif Jameel. JEDDAH: The National Commercial Bank (NCB) dedicated a portfolio of SR10 million as interest-free loans for young male and female owners of small projects who are graduates of NCB's training programs. Through an agreement signed between NCB and BRJ, NCB assigned Bab Rizq Jameel Services Company Ltd. to manage the portfolio. According to the agreement, NCB will be responsible the management costs of loans, while small projects owners will not pay any fees or interests. Abdul Karim Abul Nasr, NCB CEO, who signed the agreement with Engineer Mohammed Abdul Latif Jameel, Chief Job Creator at BRJ, said that the most important objectives of the agreement include expanding NCB support to small projects owners, helping them start their small projects and removing obstacles that may limit their success. During the agreement signage ceremony, Abul Nasr said “NCB is playing a leading and historical role in institutionalizing CSR work and introducing CSR initiatives that support the national development process through well-planned programs and initiatives that help developing the society and reflects positively on sustainable economic, social and environmental development.” “This agreement comes in line with NCB's diversified job creation programs that launch training programs and marketing opportunities for young males and females, and to help them develop their projects for a brighter future,” he added. Engineer Mohammed Abdul Latif Jameel said the mutual cooperation between NCB and ALJ Community Initiatives through BRJ is an indication of the increasing cooperation between private sector organizations in CSR area. He said the objective is to create effective tools and investment channels for young males and females and empower them start their small projects. This will ultimately help young males and females improve their professional skills and to employ themselves on solid scientific foundations for the benefit of the national economy, Jameel pointed out. The initiative complements NCB role in providing training to small project owners on how to start their businesses, and will provide them the required finance, while expanding BRJ beneficiary base.
