RIYADH, 19 September 2006 — SABB has won the first place among Saudi banks in the number of employees who have qualified for “The Basic Investment Essentials Certificate,” offered by the Institute of Banking, an affiliate of the Saudi Arabian Monetary Agency (SAMA).
Some 448 employees of SABB obtained the certificate at the end of July 2006, according to the latest statistics by the institute, says a press release issued by SABB. In his comments, Adel Al-Nasser, SABB’s deputy managing director, said: “SABB has paid great attention to this program, in accordance with the policy of SAMA, that aims at increasing investment awareness among the employees of the banking sector in the Kingdom, and to create a solid ground to cope with the expansion in stock markets.”
Noting that there is a noticeable increase in the privatization of major Saudi companies, the press release said SABB has endeavored to train its employees, since there is a direct relationship between the provision of financial or business services and the health of the stock market. Obtaining “The Basic Investment Essentials Certificate” is a mandatory requirement, for which the examination is conducted by the Banking Institute.
SABB has won the award of “Best Investment Fund Manager”, for 2005. This award is offered by the “Investment Products Committee” under the supervision of SAMA. It was awarded to SABB at a ceremony organized by the committee, which comprises representatives of different Saudi banks. The SABB Investment Fund won a total of 26 awards in different categories because of SABB’s outstanding performance in the management of investment funds within a time span that ranged between one, three and five years.