Samba Signs Deal on Funding Solutions to Financial System Affiliates

Branch Banking Head at Samba Financial Group Maan al-Kahmous, and GM of Communication and Media Operation at Ministry of Finance Hassan Alshaikh after signing the agreement.

Samba Financial Group signed the Maziah Program agreement. According to this agreement; Samba provides funding solutions and banking products to persons affiliated with ministries, authorities, and institutions falling under the financial system.

The system includes the Ministry of Finance, General Authority of Zakat and Tax, SAMA, Capital Markets Authority of Saudi Arabia and Saudi Customs.

Samba also said that it will provide funding and banking services that include several exclusive features.

Branch Banking Head at Samba Financial Group Maan al-Kahmous and GM of Communication and Media Operation at Ministry of Finance Hassan Alshaikh signed the agreement.

The deal covers among others personal funding solutions, real-estate funding, loan early payoff, purchasing debt, credit cards and setting up ATMs in buildings of the affiliated institutions and authorities as well as remote banking offices and electronic channels for direct contact.

The agreement comes in line with the ongoing partnership between Samba and government authorities, mainly, the Ministry of Finance. This partnership seeks to offer flexible solutions of an added value to those concerned in order to meet their demands.

Recently, Samba also signed cooperation agreements with a group of ministries and government authorities. This is to provide exclusive funding and banking services. Among them are the Ministry of Housing, Ministry of Education, and the Ministry of Media. In addition to a number of similar deals with private sector institutions such as SABIC.