A New Era for Loan Guarantees: The Digital Transformation of Saudi Arabia’s Kafalah

This case examines how Saudi Arabia’s Kafalah program reinvented itself to meet the nation’s Vision 2030 goals. Originally a government initiative to help small and medium enterprises access financing, Kafalah faced growing demands and outdated systems that slowed progress. Under the leadership of CEO Homam Hashim (2017–2024), the organization undertook a full digital and cultural transformation. Moving from manual approvals that once took a month to a fully digital platform called “Kafel 2,” Kafalah reduced processing time to just 37 hours and increased funding activity by more than 120%. The case provides insight into how leadership, technology, and organizational culture can work together to modernize a public institution and align it with national development objectives.