ROSHN Group Signs MoUs with 4 Saudi Banks to Provide Leading Financial Services to Private Sector Partners

Riyadh: ROSHN Group has signed agreements with four major Saudi banks, namely Arab National Bank, Bank Albilad, Bank AlJazira and Riyad Bank, to provide a wide range of financial services, a ROSHN Group press release said.

The memoranda include the provision of specialized banking services to ROSHN’s sub-developers and contractors, reinforcing the group’s commitment to supporting the Kingdom’s private sector while achieving operational excellence in its projects.

According to the release, as per the agreements, the four banks offer a suite of enhanced banking services to sub-developers and contractors referred by ROSHN, including competitive profit margins and coverage ratios. Services include expedited account opening, credit assessments, and the provision of credit facilities to eligible customers.

ROSHN Group Chief Financial Officer Avinash Pangarkar said: “The agreements with Arab National Bank, Bank Albilad, Bank AlJazira and Riyad Bank underline our commitment to empowering the private sector, with b
etter financial backing, expedited assessments, and streamlined financial services. Sub-developers and contractors can plan and execute larger and more ambitious projects, contributing to their long-term growth and sustainability. As a key enabler of Vision 2030, we believe these strategic partnerships will enable operational excellence in the speed, scale and delivery of our projects, strengthening ROSHN’s support for the private sector and our contribution to the Kingdom’s vision of economic diversification and homeownership targets.”

Source: Saudi Press Agency