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The Credit Department is the authority responsible for the running of the
lending program for industrial projects erected by the private sector within
the Kingdom. The department is well organized and staffed with the qualified
personnel required for optimal functioning and achievement of set objectives.
It consists of specialized credit divisions besides the coordination and credit
information analysis division, all-running under the supervision of the
Department Manager.
Key departmental functions and responsibilities can be summed up as follows;
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Receipt of loan applications, analysis of industrial projects' feasibility
studies and credit worthiness of the projects and sponsors. In case positive
conclusions are reached, the appropriate recommendations shall be submitted for
approval by the Management Committee or the Board of Directors, depending on
the size of proposed project loan.
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Follow up on project's implementation, and analysis of their performance
through periodical site visits and loan review reporting system for the tenure
of the relation extending from implementation start ups until final repayment
of loan maturities.
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The divisions generally participate in the industrial projects follow up
activities starting with loan application receipt up to full repayment of the
loan. Such activities include, but are not limited to, legal documentation of
the loan, loan disbursement, project implementation, and collection of loan
maturities and follow up costs.
Credit Divisions:
The credit divisions are responsible for receiving loan applications, analysis
of borrowing projects viability, and submitting appropriate recommendations for
approval by the Board of Directors of the Funds management. Moreover, they
monitor project implementation and track/analyze projects’ performance as of
loan application receipt up to full repayment of loans. This is done through
periodical project site visits as well as the loan review reporting system
extending from commencement of implementation until final repayment of the
loan.
In addition to the foregoing, credit divisions coordinate between the Fund's
clients and other SIDF inter-department divisions for provision of free
consultancy services and advice on financial, administrative, marketing,
technical and information technology aspects to borrowers. They also study the
various individual industrial sectors separately and submit the
recommendations relating to appropriate lending policies that would contribute
to enhancement of the overall performance and viability of the sector.
The Credit Department consists of four credit divisions each headed by a
Division Manager. These divisions are sub-divided into eight credit teams each
headed by a Team Leader. Each team is assigned the responsibility of handling
of given industry portfolio.
Following is a list of the various Credit Divisions and the industrial sectors
falling within the scope of their supervision.
Division- I
Industrial sectors assigned:
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Cement
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Foundries
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Pipes and Tanks of all materials
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Water proofing products
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Metal fabrication
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Ceramic tiles and Sanitary ware
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Wall panels
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Glass products
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Industrial Gases
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Chemicals and Petrochemicals
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Fertilizers and Pesticides
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Perfumes an Detergents
Division-II
Industrial sectors supervised;
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Furniture
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Paper Products & Printing
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Motor vehicles & Spare parts
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Leather products
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Basic Building Materials such as;
- Cement block
- Cement tiles
- Pre-cast Concrete blocks
- Marble & Granite
- Synthetic Marble
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Grinding & Metal Cutting stones
- Refractories
All projects applying for loans below SR 2 million regardless for products type
Division-III
Industrial sectors supervised;
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Offset program projects
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Pharmaceutical & Medical supplies projects
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Pumps
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Solar energy
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High-technology engineered industries
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All industrial Sectors studies
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Metal-sheet products
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Air conditioners
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Metals
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Cans
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Electric power Generators
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Electric Power Transformer (sub-stations)
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Electrical Appliances
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Electric Power Distribution System
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Other Engineered products
Division-IV
Industrial sectors supervised;
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Food and Beverage Products
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Other Consumer products
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Animal Feed
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Glue & Sealant material
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Textiles
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Prefabricated Buildings
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Red bricks
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Sand lime block
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Paints
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Wire & Barbed wire
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Mining
Coordination & Credit Information Analysis Divisions:
The Co. ordination & Credit Information Analysis Division is the Credit
Department division responsible for coordination between the Credit Department
and other SIDF departments. It assists Credit divisions in the collection and
analysis of credit information as well as maintaining and updating of the
information systems relating to industrial projects. In addition to its
responsibility in the preparation of the Credit Department budget and follow up
on its implementation. The division monitors and applies state-of-the-art
technology systems in collaboration with the Information Technology department.
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