King Abdullah Humanitarian Foundation has signed a memorandum of understanding with the Social Development Bank, aimed at empowering non-profit sectors and institutions supporting orphans. This initiative is part of enriching the bank’s social responsibility portfolio to support orphan institutions and their beneficiaries, achieving developmental and economic goals for both parties, while promoting sustainability principles and ensuring long-term impact.
The memorandum was signed at the foundation’s headquarters by the foundation’s CEO, Mr. Suliman bin Abdulaziz Al-Zabin, and the bank’s CEO, Eng. Sultan bin Abdulaziz Al-Humaidi. This agreement includes several areas of collaboration, primarily enhancing empowerment through training and providing non-financial services, as well as offering necessary support to associations and institutions, as agreed upon, in addition to supporting orphans who are beneficiaries of the covered associations.
This partnership is expected to generate job opportunities for beneficiaries of orphan associations and institutions, while also enhancing the sustainability of these non-profit sectors and ensuring equitable access to opportunities for Saudis. This collaboration between King Abdullah Humanitarian Foundation and the Social Development Bank will help reach more beneficiaries across various regions of the Kingdom, expand developmental horizons, and strengthen the non-profit sectors focused on orphan care.
