BANK ALBILAD SIGNS A CREDIT FACILITY AGREEMENT WITH JUBAIL UNITED COMPANY
Bank Albilad signed a credit facility agreement in accordance with Sharia laws and regulations of US $ 300 million (1 billion and 125 million Saudi Riyals) with Jubail United Company associated to Saudi Basic Industries Corporation (SABIC) as part of Bank Albilad strategy in order to provide the best innovative financial solutions and services which meet the expectations of its client including large, medium, small and micro enterprises. Such strategy aims to increase economic and developmental activities. This is consistent with the Bank's keenness to diversify its contributions in order to support Saudi Arabia's non-oil exports, infrastructure, strategic orientation of such industries and provide special industrial environment in the Kingdom of Saudi Arabia.
Mr. ABDULAZIZ MOHAMMED ALONAIZAN, the CEO of Bank Albilad said: "The credit facility agreement between Bank Albilad and Jubail United Company will effectively help achieve the ambitious goals related to the local and petrochemical industries targeted and adopted by Saudi Vision 2030 through which the development of the national economy will be promoted in order to achieve sustainable growth and create an attractive environment for investment. Such agreement reflects the efforts exerted and Bank Albilad's strategy applied with respect to providing all the various financing options for its valued client. Mr. ABDULAZIZ MOHAMMED ALONAIZAN stressed that Bank Albilad always seeks to support developmental projects and to achieve the expectations of its partners including shareholders, clients, investors and employees."
Eng. ABDULLAH ALSHAMRANI, the Chairman of Jubail United Company of (SABIC) added saying: "Such agreement will support the infrastructure and strategic orientation of the company and create a special and specific industrial environment in the Kingdom of Saudi Arabia which helps diversification efforts of the national economy and expands future cooperation horizons in order to achieve the goals of Saudi Vision 2030"
It is also noteworthy that Bank Albilad provides services to SME sector through several special centers through more than 10 centers in Riyadh, Jeddah, Dammam, Al-Hasa, Abha, Mecca, Al-Qassim, Hail, Al-Jubail and Al-Khafji. Albilad Bank business phone No. 8001237777, email: SME@bankalbilad.com . It also provides services to all clients through its extensive network of its branches all over the world of more than 150 branch and five self -service centers in Riyadh, Jeddah, Dhahran, Tabuk and Al Kharj available till 9 pm, as well as over 180 money transfer service centers "Enjaz", including King Khalid Airport in Riyadh, which operates 24/24, supported by an ATM network of more than 850 ATMs and the latest integrated e-services 24/24, including the websitewww.bankalbilad.com and Albilad application for smart phones. Bank Albilad provides 24/24, communication line via Albilad phone No. (920001002) or through all social media channels, including Twitter, Facebook, Instagram, LinkedIn and Snapchat, to meet all their banking needs.
