QNB Group and Ajlan & Bros Holding announce strategic partnership to develop and grow digital banking presence on the Kingdom of Saudi Arabia
QNB Group have entered into a joint venture agreement with Ajlan & Bros Holding, to collaborate and grow the digital banking opportunity in the Kingdom of Saudi Arabia. QNB Group Chief Executive Officer, Mr. Abdulla Mubarak Al-Khalifa, and Ajlan & Bros Holding Chairman of the Board of Directors Mr. Ajlan Bin Abdulaziz Alajlan, signed the agreement. The Deputy Group CEO of Ajlan & Bros Holding Mr. Ajlan Mohamed Alajlan and a number of senior management representatives from both sides attended the signing as well. This agreement came as part of both Groups’ strategic plan to grow their digital banking presence and investments in Saudi Arabia. Both sides have already initiated steps to obtain the required regulatory approvals.
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Aramco and Ajlan & Bros Holding Group signed two agreements, the first regarding investment in semiconductors, and the second is a cooperation agreement to establish a plastic recycling factory.
On Tuesday 5th July 2022, aramco and Ajlan & Bros Holding Group Abilitii signed two agreements, the first regarding investment in semiconductors, and the second is a cooperation agreement to establish a plastic recycling factory. Ajlan & Bros Holding Group, Deputy CEO, Ajlan Mohamed Alajlan said: “We are very keen, through cooperating with mega companies such as Aramco, on promoting and attracting new businesses to the Kingdom, which will serve the expansion of national economy, at the same time contribute to enriching domestic product, and achieving the objectives of Vision 2030 regarding diversifying economic resources, especially through focusing on 5th Generation technology that is based on using semiconductors in several aspects of our life, including modern transportation and entertainment.”
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Ajlan & Bros Holding Group Abilitii to invest SAR 50 Billion with the NIDLP
The National Industrial Development and Logistics Program (NIDLP) and Ajlan & Bros Holding Group Abilitii (ABHGA), agreed on Tuesday, September 28, 2021, a cooperation agreement under the patronage and presence of the Minister of Industry and Mineral Resources, Bandar bin Ibrahim Alkhorayef, Chairman of the Program Committee, and Mohamed bin Abdulaziz Alajlan, Deputy Chairman of Ajlan & Bros Holding Group Abilitii (ABHGA). The agreement was co-signed by Eng. Suliman bin Khalid Almazroua, CEO of NIDLP, and Eng. Ali Alhazmi, CEO of ABHGA.
Eng. Suliman bin Khalid Almazroua affirmed the importance of cooperation between the public and private sectors to push development in the Kingdom and to achieve the goals of the Saudi Vision 2030. Eng. Suliman supports empowering and motivating the private sector through active communication channels and facilitating investor connections, thus contributing in creating an attractive investment environment which characterizes the abundance of qualitative enablers and competitive advantages.
Almazroua expressed his confidence in the program capabilities and ABHGA to achieve the goals of this agreement and presented his thanks and appreciation to the Kingdom’s leadership for its continuous support to all that would contribute to achieving a better future for the Kingdom and its citizens.
He also expressed his thanks to Bandar bin Ibrahim Alkhorayef, the Minister of Industry and Mineral Resources, Chairman of the Program Committee, and the members of the NIDLP Committee for their continuous support and empowerment, in order for the program to achieve its objectives, pursue developing its sectors, achieving economic diversification, and transforming the Kingdom into a producer and an exporter to the global markets. This agreement can be considered the start for several important projects, including developing strategic titanium industries to become the key in localizing promising industries such as aviation and military industries, and establishing a mining services company and modern laboratories that provide services to the mining sector locally and regionally, in addition to developing a stock market for mining companies and a minerals trading platform that empowers investors and increases private sector contribution in achieving diversification and economic growth for the Kingdom.