Saudi Arabia launches Art Bank 7 initiative to boost creative economy

RIYADH, Saudi Arabia (MNTV) — Saudi Arabia’s Social Development Bank has introduced the Art Bank 7 event, marking the second phase of its national Art Bank initiative aimed at promoting local creativity and expanding opportunities for Saudi visual artists and independent creators.

The program, jointly organized with the Saudi Arabian Society for Culture and Arts, invites artists to showcase their work and compete for acquisition contracts, ensuring their pieces are featured across seven major bank branches throughout the Kingdom.

According to the Saudi Press Agency, the initiative seeks to enrich the nation’s cultural landscape while strengthening its creative economy. 

It also aligns with the Ministry of Culture’s ongoing Year of Handicrafts campaign, which celebrates traditional crafts and supports artisans.

Sultan Al-Hamidi, CEO of the Social Development Bank, emphasized the institution’s commitment to fostering cultural and creative sectors, particularly in fine art, handicrafts, and textiles. 

He highlighted the importance of institutional collaborations to provide professional exhibition platforms, support acquisition opportunities, and enhance the international presence of Saudi talent.

Khaled Al-Baz, CEO of the Saudi Arabian Society for Culture and Arts, said the initiative advances the organization’s mission to integrate artistic expression into the Kingdom’s cultural identity, driving both economic growth and sustainable development.

The first phase of the Art Bank initiative was launched in 2024, featuring painters, craftsmen, textile artists, and designers whose works now decorate the bank’s Riyadh headquarters, reflecting Saudi heritage and culture.