Merger complete as Alawwal, SABB fully integrate
RIYADH, March 14, 2021 The historic merger of SABB and Alawwal bank was completed today (March 14) with all products and services now combined for all customers. The integration saw the best of both institutions brought together into an enhanced proposition, designed around the growth ambitions of a transforming kingdom, said a statement. Lubna Olayan, Chair, SABB: “Today marks the completion of our integration, but we remain determined to continue delivering on our promise to create a better bank for our customers, our shareholders, our employees - and for our country. As a stronger, more diverse and now fully integrated bank, we are even better positioned to be the bank of choice for a wide range of innovative banking and finance services and to support the exciting transformation of the Kingdom and our economy.”
King Abdullah Economic City (KAEC) has announced the signing of a cooperation agreement with the Saudi British Bank (SABB), which aims to provide Shariah-compliant financing solutions from SABB for clients who wish to purchase ready-made housing units in the economic city, by the terms and financing criteria approved by the bank.
The agreement was signed on Nov. 7 in KAEC, between Ahmed Ibrahim Linjawi, CEO of KAEC, and David Dew, managing director of SABB. This partnership will contribute to the development of the real estate market by providing financing solutions to various segments of society who wish to own property in a high-quality environment, as well as providing real estate facilities to all sectors approved by SABB, governmental or private, who want to benefit from the housing offers in the city.
KSA Business: Saudi KAEC signs Islamic finance agreement with SABB gdnonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gdnonline.com Daily Mail and Mail on Sunday newspapers.
King Abdullah Economic City signs finance deal with SABB
RIYADH, December 17, 2020 King Abdullah Economic City (KAEC), the largest privately-funded new city in the world, said it has signed a cooperation agreement with the Saudi British Bank (SABB) aimed at providing shariah-compliant financing solutions to help its clients who wish to benefit from housing offers and purchase ready-made housing units in the residential neighborhoods of the Economic City. This partnership will contribute to the development of the real estate market by providing financing solutions to various segments of society who wish to own property in a high-quality environment, as well as providing real estate facilities to all sectors approved by SABB, governmental or private, who want to benefit from the housing offers in the city.