Abdullah Al-Othaim Investment Company, headquartered in Riyadh, received a delegation from Banque Saudi Fransi, led by Mr. Badr bin Hamad Al-Salloum, CEO, and a number of the bank’s leaders and experts, in the presence of Mr. Abdullah bin Saleh Al-Othaim, Chairman of the Board of Directors and Mr. Mishaal bin Omairah, CEO, within the framework of joint cooperation meetings Between financial institutions and the private sector, and Al-Othaim Investment Company’s interest in building strategic partnerships that support the company’s vision and expansion strategy
During the meeting, an agreement was signed according to which Al-Othaim Investment Company will obtain a long-term loan (in compliance with Shariah regulations) at a value of 850 million riyals for a period of ten years.
They also discussed prospects for joint cooperation in light of the development renaissance and important economic transformations the Kingdom is witnessing in line with Vision 2030 and its objectives in developing the financial and banking sector and increasing its effectiveness in supporting and developing the national economy and enhancing its diversity and sustainability.
Mishaal bin Omaira, CEO of Al-Othaim Investment Group of Companies, praised the role played by Banque Saudi Fransi and the integrated and appropriate banking products and services it provides for companies and individuals in order to enhance its leading position in banking and banking services, financial intermediation and investment sector inside and outside the Kingdom.
Bin Omaira expressed his happiness with the meeting, which was fruitful and useful, and witnessed the presentation of many constructive ideas and visions, and the common desire for cooperation and strengthening the strategic partnership relationship between the two parties.
The CEO noted the great transformation witnessed by Abdullah Al-Othaim Investment Company and the tendency to build smart and strategic partnerships with national companies, especially financial institutions, in order to enhance the contributions of the private sector in supporting the comprehensive development process that the Kingdom is witnessing, referring in this regard to the vision and expansion plan of the company, which aims to add A system of new commercial complexes in various regions of the Kingdom, where this year the acquisition of Al-Othaim Mall Al-Rass, and the operational opening of Al-Othaim Mall, Hafar Al-Batin, and the company is preparing for the operational opening of Al-Othaim Mall Al-Khafji in early October, as well as the group’s strategy for the systematic development of its system of companies in Fashion, food and entertainment sectors inside and outside the Kingdom.
For his part, Mr. Badr bin Hamad Al-Salloum, CEO of the French Bank, stated that the cooperation and strategic partnership with Abdullah Al-Othaim Investment Group comes within the framework of the role of Banque Saudi Fransi as a reliable partner for business in supporting the private sector and increasing its growth to enable it to play the developmental role entrusted to it in supporting the economy Achieving its diversity, enhancing its contribution to the development process, and increasing its contribution to the gross domestic product.