Riyadh, August 20, 2023, In a significant development, the National Center for Privatization (NCP) has officially inked a cooperation agreement with Al Rajhi Bank. This agreement aims to establish a robust collaborative framework, fostering a strong partnership between these two entities. In a bid to bolster the crucial alliance between the local and international banking sectors and its significant contribution to the triumph of privatization endeavors and the facilitation of collaborations between the public and private sectors, a groundbreaking agreement has been forged. The primary objective of this agreement is to enhance and fortify this symbiotic relationship. On a momentous occasion, the Vice President for Strategic Marketing and Knowledge Management at the esteemed NCP, Hani Al-Saigh, and the accomplished General Manager of Corporate Banking at Al Rajhi Bank, Hossam Al-Basrawi, came together to sign a historic agreement. This significant event marks a milestone in their respective organizations' journey towards progress and prosperity. In a statement, Al-Saigh highlighted the significance of this agreement as one in a series of collaborative partnerships being forged by the NCP with both local and international banks and financial institutions. In a bid to foster investment in privatization projects and bolster collaboration between the public and private sectors, a series of agreements have been crafted. These agreements aim to incentivize companies, which are clients of the banks involved, to actively participate in such ventures.
The agreement places a clear emphasis on bolstering opportunities and initiatives pertaining to privatization and public-private partnerships, catering to the interests of both local and international investors. In a multifaceted role, individuals are involved in a wide range of activities, including market surveys, financial consultations, domestic and international marketing initiatives, event coordination, training programs, and knowledge enhancement. In a recent statement, Al-Saigh emphasized the alignment of this agreement with the NCP's dedication to bolstering banks and financial institutions in their active support of privatization operations and public-private partnerships. In their efforts to attract both local and international investments, these institutions play a crucial role by engaging in private sector financing and providing consultations. In a move that resonates with the ambitious objectives of Saudi Vision 2030, the Saudi Arabian government is taking steps to bolster the pivotal role of the private sector within the nation's economy.
