Mr. Eisa M. Al Eisa, MD & CEO of Samba Financial Group announces that the Group has launched a new and innovative service for its credit card holders. Irrespective of amount or type of transaction, Cardholders will receive an SMS confirming the transaction made on their card - for the first time in the kingdom. "This service, which complements Samba's position as the dominant leader in the credit card business in the Kingdom, is completely free and enables customers to have superior control of their credit card accounts and equally ensure that their cards are never used without their knowledge" said Al Eisa, and added "Whenever a Samba credit card holder makes any transaction on his credit card, he will receive an SMS message very shortly after the transaction is successfully completed, wherever he is in the world".
Samba Financial Group is organizing orientation seminars on its New Generation version of web enabled electronic banking platform, Samba Access, which is designed to provide state of the art electronic banking solutions for corporate customers. The series of Seminars has started Saturday 24/11/1429H (22/11/2008G) at Al Faisaliya Hotel in Riyadh, and will span all the Kingdom's main regions, Central, Western and Eastern. The attendees from business community - large corporates, multinationals, small and medium (SME) enterprises across current and prospective Samba clients will be provided with an overview of the System, its advantages and the built-in advanced features that will enable the Bank's corporate clients monitor and follow up their account movements and transactions online in the real time, with total flexibility, confidentiality and security.
Sambacapital announced the launch of more real estate investment projects under its Shariah-compliant Real Estate Fund (SREF), which was launched early in 2007, as the first Real Estate Fund in the Kingdom under the umbrella of the Real Estate Fund Regulations issued by the Capital Market Authority.
Eisa Al-Eisa, Managing Director and CEO of Samba Financial Group, formally inaugurated the new Samba head office in Dubai, making Samba the first Saudi bank to establish a full presence in the United Arab Emirates. The launch ceremony was held at the new Samba Dubai head office, followed by a gala dinner at Burj Al-Arab Hotel attended by key UAE dignitaries as well as members of the business community and the media. Al-Eisa thanked His Royal Highness Sheikh Mohammad bin Rashid Al Maktoom, Vice-President of the United Arab Emirates and Prime Minister and Governor of Dubai, for granting Samba the opportunity to operate in this very important and promising market and for sending his deputy, His Royal Highness Sheikh Maktoom Bin Mohammad Bin Rashid Al Maktoom, Deputy Ruler of Dubai, to the inauguration of Samba's new Dubai head office. Al-Eisa also expressed his appreciation to His Excellency the Minister of Finance of the UAE and His Excellency the Governor of the UAE Central Bank for their support.
Samba Financial Group was granted on November 10, 2008 an approval and registration as a Foreign Institutional Investor (FII) in India by the Securities and Exchange Board of India (SEBI) permitting it to carry on investment activities in the Indian securities market.
For the second year in a row, Samba Financial Group has been named Best Foreign Exchange Bank for 2008 by Global Finance magazine. The award recognizes Samba's leading position in forex and interest rate transactions, its impressive performance in the local and international markets, and its consistent leadership and pioneering position in the industry. Earlier, Euromoney magazine also named Samba as the Best Treasury Bank in the Middle East, affirming Samba's industry-leading performance in the international level.
Samba Financial Group, the dominant leader in the credit card business, launched Samba Al Khair Business Card - the first Islamic Business Card in the Kingdom and North Africa and Middle East (MENA). Samba Al Khair Business Card targets the unique needs of the Saudi entrepreneurs who own Small or Medium Enterprises in the Kingdom.
Mr. Eisa M. Al Eisa, Samba's MD & CEO, has announced that Fitch Ratings, a leading global rating agency, has upgraded Samba's Long Term Issuer Default Rating (IDR) to A+ from A with Stable Outlook, which is one of the highest among the banks in the Kingdom, and it is also in line with upgrading the Saudi Arabia's sovereign long-term local and foreign currency IDR. Fitch also upgraded Samba's Support Rating Floor to A+ from A. Other ratings reaffirmed were S/T Foreign Currency IDR: F1; Support: I; and Individual B.
Samba Financial Group has been named for four straight years "Best Bank in Saudi Arabia 2008" by Euromoney through its annual Awards for Excellence. With this, the Group has won this accolade for 13 of the last 16 years in the history of the Award, which emphasizes its global reputation and ability to maintain a solid and consistent financial and banking position to gain the trust of leading rating agencies.
Mr. Eisa M. Al Eisa, Managing Director and CEO of Samba Financial Group, announced the launch of Samba's first integrated branch in Dubai- the first Saudi Bank to operate in UAE.
Mr. Eisa Mohammad Al Eisa, Managing Director and Chief Executive Officer of Samba Financial Group (Samba), announced that Samba is preparing to launch its new presence in the GCC, mainly in Doha, the Capital of the State of Qatar, after obtaining a license from Qatar Financial Centre Regulatory Authority (QFCRA) to conduct regulated banking and financial activities in the Qatar Financial Centre. Al Eisa extended his gratitude and deep thanks to the Qatari concerned authorities for their confidence in Samba and giving it the opportunity to provide its banking and financial services in this very important and attractive regional market, and participating actively in developing the investment and financial environment in Qatar.
His Royal Highness Prince Salman Bin Abdulaziz, Riyadh Governor, handed over to Mr. Eisa M. Al Eisa, Samba's Managing Director and CEO, the 1428/1429 "Best Employment" Award, granted annually from the Institute of Public Administration to the best national institution that employs the largest number of the Institute's graduates, and in appreciation of Samba's efforts in sponsoring the "Twelfth Graduate and Job Day" organized by the Institute on Sunday 20/5/1429H (25/05/2008), under patronage of his Royal Highness Prince Salman Bin Abdulaziz.
Samba Financial Group celebrated the Inauguration of Samba UK's Renovated Premises on Friday, April 18, 2008. Mr. Eisa Al Eisa, Managing Director and Chief Executive Officer of Samba Financial Group said that the major renovations of the Branch aims at keeping with the pledge to deliver best-in-class value propositions to our customers and to provide a state-of-the-art customer experience and a positive working environment.
Mr. Eisa Al Eisa, Managing Director and CEO of Samba Financial Group, says that Samba's sponsorship of Euromoney Saudi Arabia 2008 embodies its policy to sponsor national, regional and international economical events that provide for giving positive impression on the Kingdom's economical climate, and reflect the real prosperous outlook of the Kingdom and its leading role in all fronts. "The Kingdom's economy enjoys an enabling investment climate and great potentials to attract local and foreign investments thanks to its well-woven legislative and regulatory platform that enables it to assume a pivotal role in the region's economies leading them to wider horizons and be more effective in the world economical regime" Al Eisa was quoted as saying.
Global Finance magazine, a premier magazine for finance and business, has named Samba Financial Group: "Best Islamic Financial Institution in the Kingdom of Saudi Arabia and in the GCC region" during 2008. Global Finance has announced its first annual awards for the World's Best Islamic Financial Institutions. In its announcement, the Magazine says "The winners of this year's awards are those banks that contributed to the growth of Islamic financing and successfully met their customers' needs for Shariah-compliant products, while creating the foundation for continued fast growth in the future". The Magazine indicated that Shariah-compliant finance is the fastest-growing area of finance worldwide, with more than 300 financial institutions that are either fully Islamic or selling Islamic finance products, in addition to several hundreds more Islamic investment banks and insurance companies, or takaful".
In its fifteenth annual selection of the Best Emerging Market Banks in the Middle East 2008, Global Finance Magazine has named Samba Financial Group "Best Bank in Saudi Arabia 2008" for the third year in the row, in recognition of its high performance and sustained growth in all banking and financial segments. The announcement of the winners coincides with the Magazines' celebration of its 21st anniversary in business.
His Excellency, Mr. Eisa M. Al-Eisa, the MD & CEO of Samba Financial Group has announced its financial results for the first quarter 2008.
Having reviewed its meeting agenda and considered the Board's recommendations, Samba's Extraordinary General Assembly Meeting held at 4:00 p.m., on Wednesday 27 Safar 1429H (Corresponding to 5 March 2008) at Four Seasons Hotel In Riyadh, has approved the Board's recommendations to increase the Bank's capital by 50%, from SR 6 Billion (600 million shares) to SR 9 billion (900 million shares), by granting 1 bonus share for every 2 shares held by the shareholders who are registered in the Bank's records by the end of the trading session on Wednesday 27 Safar 1429H (Corresponding to 5 March 2008). The increase will be effected through transfer from the retained earnings, and it aims at meeting the requirements of the Bank's continuous growth as well its local and regional expansions. Further, the Extraordinary General Assembly Meeting resolved to revise Article 6 of the Bank's Article of Association so that the Bank's capital will become SR 9 billion distributed over 900 million shares at a nominal value of SR 10 per share.
In its session on 5 February 2008, Samba's Board of Directors resolved to recommend to the Extraordinary General Assembly Meeting to raise the Bank's capital by 50%, from SR 6 Billion (600 million shares) to SR 9 billion (900 million share), by granting 1 bonus share for every 2 shares held. The Board further decided to distribute dividends for the second half of 2007, bringing the total cash dividends distributed for the fiscal year 2007 to SR 2.7 per share. Eligibility for granting of premium shares and cash dividends will be for shareholders who are registered in the Bank's records by the end of the trading session on the day of holding the Ordinary and Extraordinary General Assembly meetings, subject to securing the required approvals of the competent authorities. Please note that the cash dividends are not applicable to premium shares.
His Excellency, Mr. Eisa Al-Eisa, the MD & CEO of Samba Financial Group has announced its financial results for the 4th Qtr 2007 and the year ended Dec 31, 2007.