Saudi Minister of Communications and Information Technology tours ITC site

Minister of Communications and Information Technology Abdullah Amer Al-Sawah inspected the progress of a project in Dammam’s Al-Nakheel neighborhood.
Updated 06 March 2018

Saudi Minister of Communications and Information Technology tours ITC site

During a recent field visit, Minister of Communications and Information Technology Abdullah Amer Al-Sawah saw the progress of the urban fiber optic broadband services initiative — one of the initiatives of the National Transformation Program 2020 and part of Vision 2030.
Al-Sawah inspected the progress of the project in Dammam’s Al-Nakheel neighborhood, which is supervised by the Integrated Telecom Company (ITC).
This is the minister’s second visit to ITC projects after the previous one in the central region.
Ghassan Itani, CEO of ITC, explained the details and different stages of the project within the planned schedule to the minister. ITC oversees several neighborhoods in Dammam, including Al-Nakheel, Al-Khaleej, Anoud, Salam, Aziziyah, Qadisiyah and Al-Faisaliah.
Abdullah Al-Kanhal, deputy minister of infrastructure, and several other officials from the ministry joined Al-Sawah in this visit.
ITC is working on covering 640,000 households in different cities across the Kingdom.

Emirates NBD opens branch in Alkhobar

Updated 20 September 2018

Emirates NBD opens branch in Alkhobar

Emirates NBD, a banking group in the Middle East, has expanded its presence in the Kingdom with the opening of its first branch in Alkhobar in the Eastern Province. Emirates NBD now covers three key regions in Saudi Arabia with a presence in Riyadh, Jeddah and Alkhobar. 

As Saudi Arabia progresses plans for economic reform, in line with its Vision 2030, Emirates NBD’s presence builds on the growing economic and trade ties between Saudi Arabia and the UAE. Following the establishment of the Saudi-Emirati Coordination Council, the UAE and Saudi Arabia recently announced The Strategy of Resolve, a joint vision for economic development through 44 joint strategic projects within a five-year time frame. 

UAE-based Emirates NBD is the first non-Saudi bank with a significant branch network across the Kingdom. The bank offers retail, private, business and wholesale banking across its network of three full-fledged branches in the Kingdom, in addition to corporate finance advisory, project and syndicated finance through Emirates NBD Capital KSA, the bank’s investment banking arm.

Emirates NBD also operates in Egypt, India, Singapore, and the UK with representative offices in China and Indonesia. 

“Our presence in Saudi is integral to Emirates NBD’s growth strategy as we continue to explore opportunities in the GCC region’s largest and most dynamic economy,” said Hesham Abdulla Al-Qassim, vice chairman and managing director of Emirates NBD. 

“Saudi Arabia is in the midst of a landmark economic transformation and we look forward to continuing to support Saudi individuals and businesses looking for a trusted banking partner.” 

Emirates NBD recently renewed its partnership with the Kingdom’s Kafalah Program, which aims to promote financing to small and medium enterprises (SMEs) within the country.

Loai Abduljawad, CEO of Emirates NBD KSA, said: “Emirates NBD’s expanded network strengthens our offering to individuals and corporates in Saudi Arabia looking to invest and trade across the MENA region and beyond. Our superior value proposition, built on the bank’s unique ‘high tech + high touch’ philosophy of offering customers a modern banking experience complemented by personalized advisory services, will enable us to strengthen customer acquisition in the Kingdom as we continue to support the country’s long-term growth and development goals, as outlined in Saudi Vision 2030.” 

Emirates NBD is a leading banking group in the region. As of June 30, 2018, its total assets were 477.5 billion dirhams, ($130 billion). The group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 percent of all financial transactions and requests conducted outside of its branches. The bank was declared the “Most Innovative Financial Services Organization of the Year” at the 2017 BAI Global Innovation Awards.