"Othaim Investments" strengthens its strategic partnerships with the banking sector by signing a joint cooperation agreement with Riyadh Bank
"Al-Othaim for Investment" and Riyadh Bank have signed a joint cooperation agreement, whereby the bank will provide financing facilities to the company, within the framework of the existing strategic partnership between them. This supports the strategic and expansionary directions of the company, enhancing cooperation between financial institutions and the private sector.
The agreement was signed by Mashael bin Umairah, CEO of Al-Othaim, and by Mohammed Abdulkafi Al Salah, Director of Corporate Banking at Riyadh Bank, in the presence of Abdullah bin Saleh Al-Othaim, Chairman of the Board, and Tareq bin Abdulrahman Al-Sadhan, CEO of Riyadh Bank.
Discussions were held on the sidelines of the signing ceremony regarding the prospects of joint cooperation, in line with the significant developmental advancements and economic transformations taking place in Saudi Arabia, in line with Vision 2030. These aim to stimulate and empower the national investment sector, enhancing its effectiveness to support and develop the national economy, increase its diversity, and ensure its sustainability.
Mashael bin Umairah expressed his satisfaction with the signing of this agreement with Riyadh Bank, praising the bank's leading role in the Saudi banking industry through its integrated system of products and services designed for both corporate and individual sectors.
He stated that the agreement would open up broad prospects for joint cooperation and the establishment of smart partnerships, reflecting the strategic interests of both parties. He emphasized the significant transformation taking place in Al-Othaim for Investment and its keenness to establish strategic partnerships with national companies, especially financial institutions, to enhance the private sector's contributions to supporting the comprehensive development process in Saudi Arabia.
The CEO of Al-Othaim for Investment highlighted the company's vision and expansion plans, aiming to add a system of commercial complexes and integrated investment projects in various regions of Saudi Arabia to enhance its leadership in this field and enrich tourism and entertainment activities, providing an attractive environment to attract the best global brands and improve quality of life elements.
On his part, Mohammed Abdulkafi Al Salah expressed Riyadh Bank's pride in reaching this agreement, given its strategic importance in strengthening promising partnerships between components of the Saudi private sector, whose development takes priority within the agenda and goals of Saudi Vision 2030. He affirmed the bank's appreciation for the growing qualitative activity of Al-Othaim for Investment and its tangible achievements within ambitious and confident plans, noting that this partnership between the two parties would support the strategic directions and development plans of the company.