Guarantees for Loans to Small and Medium Enterprises

Can I start executing my project when the bank approves the loan?

Mon, 03/18/2013 - 10:59 -- admin

No. You may only start executing the part of your project guaranteed by Kafalat, after Kafalat has issued its guarantee. The bank cannot disburse the loan before Kafalat’s letter of guarantee is issued, unless a prior written justification is given by the bank and approved by KAFALAT.