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February 2020

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Samba Provides Exclusive Home Financing Offers to the Ministry of Media Subordinates who benefit from the Ministry of Housing and Real Estate Development Fund programs

Samba Financial Group and the Ministry of Media entered into a cooperation agreement, under which Samba provides facilitated financing offers to the employees of the Ministry of Media to enable them to own housing with competitive and exclusive benefits. This agreement comes in promotion of Samba's financing role to support the strategic development initiatives adopted by the Ministry of Housing to enable citizens to have appropriate housing.

This is the third agreement of its kind entered by Samba under the umbrella of its strategic partnership with the Ministry of Housing. The Group had previously signed similar agreements with each of the Ministry of Education and “SABIC” to provide affordable financing solutions to the employees of those entities who benefit from the Ministry of Housing programs, given the Bank’s pioneering role in stimulating the programs of the Ministry of Housing and the Real Estate Development Fund and supporting their aspirations to raise the percentage of house owning citizens in accordance with the Kingdom's Vision 2030.

The agreement was signed by the Head of Consumer Banking Group in Samba, Mr. Maan Al-Kahmous and the Supervisor of Institutional Housing at the Ministry of Housing, Eng. Abdullah bin Saeed. The signing ceremony was held at the conference hall of Crown Plaza Hotel in Riyadh in the presence of their Excellences the Minister of Housing, Majid Al-Hogail, and the Minister of Media, Turki Al-Shabana, during which the strategic partnership between the Ministry of Media and the Ministry of Housing, was launched.

In this context, Samba signed an agreement with the Institutional Housing affiliated to the Ministry of Housing to provide exceptional home financing offers supported by reduced interest rates and exclusive facilities, for the purpose of assisting beneficiaries in obtaining adequate housing with convenience and ease.

Samba highlighted that this agreement, addressed to eligible employees of the Ministry of Media who meet the criteria of housing support regulation, will grant beneficiaries the possibility of obtaining financing by Samba supported by exclusive and competitive benefits, in a manner that reflects the ideal partnership with the Ministry of Housing.