Riyad Bank and ministry of finance sign two memorandums of understanding to support stimulus initiative projects
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26-Feb-2020
As part of the Riyad Bank strategy to support the ministry of finance initiatives that is related to vision 2030 targeted sectors and stimulate to achieve vision 2030 objectives, Riyad Bank signed two memorandums of understanding with ministry of finance with the presence of the Head of the DMO and Advisor to the Minister of Finance Mr. Fahad Al-Saif, Riyad Bank vice- chairman of the board Eng. Mutaz Alazzawi , Riyad Bank CEO Tareq Al Sadhan during “ FURAS” municipal investment forum that is related to ministry of municipal and rural affairs which held recently in Riyadh.
<p>As part of the Riyad Bank strategy to support the ministry of finance initiatives that is related to vision 2030 targeted sectors and stimulate to achieve vision 2030 objectives, Riyad Bank signed two memorandums of understanding with ministry of finance with the presence of the Head of the DMO and Advisor to the Minister of Finance Mr. Fahad Al-Saif, Riyad Bank vice- chairman of the board Eng. Mutaz Alazzawi , Riyad Bank CEO Tareq Al Sadhan during “ FURAS” municipal investment forum that is related to ministry of municipal and rural affairs which held recently in Riyadh.</p><p>The first agreement is to support project initiative “a change of land and loan” by providing a financial advice and participate in finance programs which will be used as an investment opportunities and the second agreement contains a collaboration to activate co- financing product “financing packages “and that’s to support projects in the targeted sectors with the “projects support fund” among the standards support that is related to the initiative.</p><p>It is worth mentioning that Riyad Bank is the top supporter of SMEs due to its clear vision and comprehensive strategy that allow the bank to offer a wide range of facilitated financing solutions dedicated to SMEs.</p>