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SABB Completes Merger With Alawwal Bank

SABB Completes Merger With Alawwal Bank
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SABB Completes Merger With Alawwal Bank

SABB Completes Merger With Alawwal Bank

The Saudi British Bank (SABB) announced that it had completed its merger with Alawwal Bank to join all products and services provided to customers.

Through the integration, SABB will support economic growth across different fields in Saudi Arabia by financing the biggest infrastructure projects.

Both banks were legally merged in June 2019 to form the first integration in terms of scale and complexity in Saudi Arabia.

The Chairman of SABB, Lubna Olayan, said: "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."

For his part, SABB's Managing Director, David Dew, said: "Our increased balance sheet and capital means we can better support our customers and deliver greater shareholder value."

SABB will also strengthen its partnership with HSBC to enable its customers to have access to the international banking network and introduce new standards in digital services to Saudi Arabia.

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Second Emirati-Iraqi Business Forum Discusses Enhancing Trade Partnerships

The event took place on the sidelines of the Iraqi trade delegation's visit to the UAE from May 1st to 2nd - WAM
The event took place on the sidelines of the Iraqi trade delegation's visit to the UAE from May 1st to 2nd - WAM
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20
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Second Emirati-Iraqi Business Forum Discusses Enhancing Trade Partnerships

The event took place on the sidelines of the Iraqi trade delegation's visit to the UAE from May 1st to 2nd - WAM
The event took place on the sidelines of the Iraqi trade delegation's visit to the UAE from May 1st to 2nd - WAM

The Federation of UAE Chambers of Commerce and Industry, in cooperation with the Federation of Iraqi Chambers of Commerce, organized the Second Emirati-Iraqi Business Forum this week in Dubai.
The event took place on the sidelines of the Iraqi trade delegation's visit to the UAE from May 1st to 2nd.

The forum witnessed the participation of more than 170 companies from major institutions and corporations in both countries, state news agency WAM reported.

Over 250 bilateral business meetings were held between representatives of various sectors, most notably real estate, contracting, tourism, hospitality, energy, renewable energy, logistics services, healthcare, and artificial intelligence, in addition to bilateral meetings between the chambers of commerce.

Abdullah Sultan Al Owais, Vice Chairman of the Federation of UAE Chambers of Commerce and Industry and Chairman of the Sharjah Chamber of Commerce and Industry, affirmed the keenness of the chambers of commerce and private sector representatives to support and enhance trade and investment cooperation between the UAE and the Republic of Iraq. He pointed out the importance of the "Together for Partnerships" initiative, launched in cooperation between the Federation of UAE Chambers and the International Development Bank - Dubai Branch, which aims to be a link and a bridge for investors and business owners between the two brotherly countries.

During the opening session, Dr. Mudhaffar Mustafa Al-Jubouri, the Iraqi Ambassador to the UAE, praised the depth of the brotherly and cooperative relations between Iraq and the UAE.

He also emphasized the importance of strengthening economic partnership and expanding the horizons of cooperation in various fields, in a way that achieves sustainable development and economic prosperity for both countries.