News 2007

June 2007

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One of the largest Islamic Compliant Financing Deals to SABIC Samba wins the "Deal of the Year" Award, 2007 for Saudi Arabia

The Banker, a premier global banking and financial magazine, has chosen Samba Financial Group to win the Banker's "Deal of the Year" Award for 2007 for Saudi Arabia for arranging the largest Islamic financing deal in the Middle East and North Africa, comprising underwriting facilities to SABIC amounting to USD 2.43 billion.

Judges have chosen Samba to win this prestigious accolade after evaluating over 70 individual countries and going though a total of over 750 applications for winning the Award. Judges used a wide range of criteria in selecting the winning deals with an emphasis on the degree to which client objectives were met as well as the deal complexity, innovation, speed of execution and pricing Samba received the Award during a ceremony held at The Ritz Carlton Hotel in Manama, Bahrain on May 2nd, 2007.

Mr. Eisa Al Eisa, Managing Director and CEO of Samba Financial Group, expressed his pleasure for wining this accolade for the third time in 4 years.

He said "this selection by The Banker reflects the Group's ability to support its clients and boost the development of Saudi economy. It also signifies the pioneering role of Samba in the Saudi banking Sector in providing all possible facilities to investors, capitalizing on world-class expertise to materialize the economic vision of large corporate and meeting the clients' expectations up to the highest banking and financial standards".

"Thanks to its financial strength, Samba was able to win several large deals and extend extensive financial support in innovative ways to many preeminent clients such as SABIC, Mobily, Haram Expansion Project in Al Madinah and many others, all in accordance with our strategy and developmental Vision as a premier Saudi and regional bank.