22/03/2017
In the monthly Tuesday
meeting in Qatif
The
Head of the National business
pioneering in its Branch in Dammam, Abdul Wahab Al Fardan, said that the
institute seeks to spread the culture of pioneering, qualifying pioneers to obtain financial support from
supporting committees such as the Social Development Bank and launch added value
projects.
He
said during the monthly meeting of the branch of Asharqia Chamber in Qatif province, which was
held on Tuesday 21 March 2017 and headed
by the vicar of the Business Council
Branch Hisham bin Ali Al Saif that the total projects approved by the Institute
to qualify for the pioneering level
during the past years amounted to 350 projects in Dammam alone.
He
added that the Institute provides training, guidance and consultation services
free of charge and gives them accredited certificates. All these courses are
given by the trainee, which are workshops to identify the obstacles and ways to
solve them, and learn many skills required for each entrepreneur.
Al
Fardan stressed that the Institute, in addition to the training and consulting
services, following up the trainee, and work with him to facilitate the
issuance of licenses, as well as facilitate the financing process, as following
up committees concerned and communicate
with them to achieve this.
He
pointed that the process of approving projects goes through several steps,
including the selection of eligible youth, feasibility study, the approval of the Social Development Bank
and finally sponsoring the project. The delay may occur due to some procedures,
and sometimes because of the big number
of projects by these committees which requires the approval.
Al
Fardan explained that the institute receives support requests from young people
who wish to have the free work. The
initial approval is answered or not. It does not take more than 48 hours,
followed by the personal interview, and the student is transferred to
participate in the self motivation course for one day. Preparation
of the feasibility study, which takes 3 weeks and the next stage is the
preparation of the project plan and then funding from the Social Development
Bank, which requires study of the file for 30 - 45
days, considering this period appropriate regarding the bank study of the
projects sent by 37 branches in the Kingdom.
He
referred to the financing process and said that it is distributed in 4
installments 25% in the first installment and the same in the second
installment, 35% in the third installment and 15% in the last installment,
explaining that the interval between the first and second installments is 3
months, The
process of completing the requirements of the first installment, the delay is prevents
of getting the second installment.
He
stressed that the guarantor is a problem in the decline in the number of applicants
to the Institute, but it is a condition that falls within the necessary
requirements of the Social Development Bank, because there are cases of non commitment
to pay after the acceptance, which is an important condition to continue
support for future projects.
He
said that the number of branches of the Riyadh Institute in the Kingdom is
currently 37 branches currently distributed in branches, 24 for men and 13 for women.
He
said that the Institute is continuing with the concerned institutions to add
some of the curriculum presented by the
Institute to the curriculum in schools and universities, stressing at the same
time the existence of partnerships with many different funding and training.
He
explained that some of the people of the Institute received the Forbes
International Award and were honored by the Prince of the Eastern Province, and
that some of them have become friends of the Institute, assign them the
task of evaluating projects, and making some
personal interviews and some tasks.
At
the end of the meeting, the vicar of the Chamber council of Commerce of Asharqia Chamber of
Qatif Hisham Al Saif honored the guest of the meeting Al Fardan with a memorial
shield.
