To find financing solutions for the Kingdom’s entertainment sector, the General Entertainment Authority (GEA) signed on Wednesday a memorandum of understanding (MoU) with Bank AlJazira under the guidance of Turki Al-Sheikh, Chairman of the GEA Board of Directors.
The MoU is part of a package of services and solutions that GEA provides to entertainment companies to sustain and develop the entertainment industry.
GEA is working with a number of specialists to provide more solutions and services for companies.
The MoU also forms part of a series of agreements that will be signed soon with several financial institutions with whom negotiations are currently underway.
The objectives of cooperation between GEA and banks include supporting private sector SMEs, developing the entertainment sector and ensuring its sustainability, encouraging entertainment activity in various regions of the Kingdom, and developing local content of entertainment activities. This will contribute to providing distinctive activities and events, assisting salary payments of companies’ employees, meeting financial obligations, and create job opportunities for youth.
To benefit from funding services, please contact the bank on the following number: 8002449090
For more information please visit the authority’s website: