Samba Hands Over 100 Housing Units in Community Initiative

Friday, 18 January, 2019 - 12:00
Riyadh - Asharq Al-Awsat

Samba Financial Group has provided 100 housing units to needy families as part of the Housing Support Program that falls under its community initiatives.

The Program aims to provide 500 furnished housing units to the needy and 100 new and furnished housing villas ready for immediate housing.

The announcement was made on Wednesday during a ceremony held in Riyadh to hand over the keys to those benefiting from the program.

The ceremony was attended by Chairman of Samba Financial Group Issa al-Issa, Minister of Housing Dr. Majed Al-Hogail, Saudi Arabian Monetary Authority (SAMA) Governor Dr. Ahmed Al-Khulaifi, CEO of Samba Financial Group Rania Nashar and a number of officials.

Issa stated that Samba has taken the initiative to help 500 households, saying that around three batches have already been handed over to more than 1,600 beneficiaries.

Hogail said that the initiative reflects the spirit of fruitful cooperation and integration between the public and private sectors endorsed by the ministry and the Real Estate Development Fund (REDF) to provide citizens with houses.

The Saudi banking sector – supervised by SAMA – has been the strategic partner and a key arm for the ministry of housing, Hogail added.

Khulaifi depicted the initiative as evidence on the banking institutions' deep commitment to social responsibilities, and a reminder on the effective role of Saudi banks in providing incentives to development.

As for Nashar, she said that Samba’s initiative wouldn’t have succeeded without the joint efforts of all parties, stressing that it is an extension of a series of development programs implemented by the financial group.

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