Bank AlJazira, Sela Sports forge links

Bank AlJazira and Sela Sports have signed an agreement by which Bank AlJazira becomes the first Saudi bank to invest in the Kingdom’s sports industry.
Khaled Al-Othman, senior VP and head of retail banking group at Bank AlJazira and Rakan Al-Harthy, chairman of the board at Sela Sports, signed the agreement.
Also present were Ibrahim Binaquil, VP and head of marketing and communications group at Bank AlJazira as well as Abdullah Mohtaseb, projects development manager at Sela Sports.
Khalid Al-Othman said: “This agreement is the starting point for Bank AlJazira stepping into the field of Sports investment in Saudi Arabia. We are aware of the importance and promising potential of this industry which hopefully will contribute to promoting both the sports sector and youth welfare.”
Sharing his perspective, Rakan Al-Harthy said the agreement is the first of its kind where by Bank AlJazira becomes the first Saudi Bank to invest in sports marketing in Saudi Arabia. This is due to the rising public awareness and increased number of followers and spectators and especially for local competitions and events has transformed into a profitable industry with very high returns on investment.