NCB & AJIL sign SR 600 Million Securitization Agreement

National Commercial Bank and AJIL Financial Services recently concluded a securitization agreement to the tune of SR 600 Million at the company’s Headquarters Office in Jeddah, Saudi Arabia. The agreement was signed by AlSharif Khalid AlGhalib, Senior Executive Vice President, who heads the Corporate Sector of NCB and Waleed Y Zahid, Chairman of the Board of AJIL, in the presence of senior officials of both the bank and the company.

AlSharif Khalid AlGhalib, NCB Senior Executive Vice President and Waleed Y Zahid, Chairman of the Board of AJIL

Upon signing the agreement, Zahid emphasized that the company has in recent years substantially expanded and diversified its innovative products portfolio and is well placed on the path of leading edge financial services companies. He said, “AJIL is extremely well positioned to fully participate in the expanding opportunities of the Saudi Economy.” He further added, “We look forward to continuing and strengthening our valued relationship with NCB, an institution that we consider a corner stone to the vitality of the private sector.”

On his part, AlSharif Khalid commented “Providing the required funding for this pioneering company fulfills AJIL’s requirements and supports its needs, enabling it to offer the best financing solutions for its customers in the Kingdom. This type of funding coincides with the vision of NCB that supports the critical business activities enriching the National Economy.”