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SAMBA Signs Two MoUs With Ministry of Finance

SAMBA Signs Two MoUs With Ministry of Finance

Tuesday, 25 February, 2020 - 11:00
Riyadh - Asharq Al-Awsat

Samba Financial Group has signed two memorandums of understanding with the Ministry of Finance as part of its partnership with the private sector to support projects.

The two MoUs were signed by Ammar al-Khudairy, Chairman at Samba Financial Group, Rania Nashar, Samba Financial Group CEO, and Fahd Al-Saif, president of the Debt Management Office (DMO) and Advisor to the Minister of Finance.

The first agreement includes SAMBA's support to the fund allocated to projects, which was launched by the ministry of finance to boost private sector firms that seek developing projects of economic and social impact.

Per the agreement, SAMBA would provide funding for these projects by enabling the beneficiary from developing and supporting goals that go in tandem with the strategic vision of the programs and funds.

As for the second agreement, SAMBA would provide in cooperation with the ministry, funding and financial consultations as well as services related to activating the initiative to support qualitative projects.

These agreements come under the context of ongoing active partnership between the ministry of finance and SAMBA. The latter is considered a key funding party that is related to the cooperation agreement with the ministry of finance.

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