Dubai’s Emirates NBD further expanded its branch network to three large cities in Saudi Arabia as the lender aims to solidify its foothold in the Arabian Gulf’s largest economy.
Emirates NBD, the biggest bank in Dubai by assets, has opened a new branch in Khobar in the kingdom's oil-rich eastern province, the bank said in a statement on Sunday. Emirates NBD now covers three key regions in the country with presence in Riyadh, Jeddah and Khobar. With the latest expansion, Saudi Arabia hosts Emirates NBD’s biggest branch network outside of the UAE and Egypt, it said.
“Our presence in Saudi is integral to Emirates NBD’s growth strategy as we continue to explore opportunities in the GCC,” Hesham Abdulla Al Qassim, vice-chairman and managing director at Emirates NBD, said. “Saudi is in the midst of a landmark economic transformation and we look forward to continuing to support Saudi individuals and businesses looking for a trusted banking partner.”
Regional and international financial institutions and banks are keen to establish a presence in Saudi Arabia, as Opec’s top oil producer continues to diversify its economy away from oil. The kingdom’s economic overhaul agenda includes development of local non-oil industries and the sale of some state assets. A booming population in the country and coupled with economic diversification offer growth opportunities for local, regional and international banks.
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Emirates NBD expands its branch network in Saudi Arabia
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Emirates NBD recently renewed its partnership with the kingdom’s Kafalah programme, which aims to promote financing to small and medium-sized enterprises within Saudi Arabia, the lender said.
The bank which is investing heavily in digitisation offers retail, private, business and wholesale banking across its network of three branches in the kingdom. The lender also offers corporate finance advisory, project and syndicated finance through Emirates NBD Capital KSA, the bank’s investment banking arm in the country. The Dubai-headquartered lender also operates in Egypt, India, Singapore, and the UK with representative offices in China and Indonesia.
“Emirates NBD’s expanded network strengthens our offering to individuals and corporates in the kingdom looking to invest and trade across the Mena region and beyond,” Loai Abduljawad, CEO of Emirates NBD in Saudi Arabia. “We continue to support the country’s long-term growth and development goals, as outlined in Saudi Vision 2030.”
The bank is building its presence on the back of growing economic and trade ties between Saudi Arabia and the UAE, the two top economies in the region. Following the establishment of the Saudi-Emirati Coordination Council, the UAE and Saudi Arabia have recently announced The Strategy of Resolve, a joint vision for economic development through 44 joint strategic projects within a five-year time-frame, the bank noted.
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
What is double taxation?
- Americans living abroad file taxes with the Internal Revenue Service, which can cost hundreds of dollars to complete even though about 60 per cent do not owe taxes, according to the Taxpayer Advocate Service
- Those obligations apply to millions of Americans residing overseas – estimates range from 3.9 million to 5.5 million – including so-called "accidental Americans" who are unaware they hold dual citizenship
- The double taxation policy has been a contentious issue for decades, with many overseas Americans feeling that it punishes them for pursuing opportunities abroad
- Unlike most countries, the US follows a citizenship-based taxation system, meaning that Americans must file taxes annually, even if they do not earn any income in the US.
Killing of Qassem Suleimani
Results
2.15pm: Handicap Dh80,000 1,950m
Winner: Hello, Tadhg O’Shea (jockey), Ali Rashid Al Raihi (trainer).
2.45pm: Handicap Dh90,000 1,800m
Winner: Right Flank, Pat Dobbs, Doug Watson.
3.15pm: Handicap Dh115,000 1,000m
Winner: Leading Spirit, Richard Mullen, Satish Seemar.
3.45pm: Jebel Ali Mile Group 3 Dh575,000 1,600m
Winner: Chiefdom, Royston Ffrench, Salem bin Ghadayer.
4.15pm: Handicap Dh105,000 1,400m
Winner: Ode To Autumn, Patrick Cosgrave, Satish Seemar.
4.45pm: Shadwell Farm Conditions Dh125,000 1,200m
Winner: Last Surprise, James Doyle, Simon Crisford.
5.15pm: Handicap Dh85,000 1,200m
Winner: Daltrey, Sandro Paiva, Ali Rashid Al Raihi.
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Killing of Qassem Suleimani
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The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
Kibsons%20Cares
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A timeline of the Historical Dictionary of the Arabic Language
- 2018: Formal work begins
- November 2021: First 17 volumes launched
- November 2022: Additional 19 volumes released
- October 2023: Another 31 volumes released
- November 2024: All 127 volumes completed
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City's slump
L - Juventus, 2-0
D - C Palace, 2-2
W - N Forest, 3-0
L - Liverpool, 2-0
D - Feyenoord, 3-3
L - Tottenham, 4-0
L - Brighton, 2-1
L - Sporting, 4-1
L - Bournemouth, 2-1
L - Tottenham, 2-1
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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Killing of Qassem Suleimani
Killing of Qassem Suleimani
Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Visit Abu Dhabi culinary team's top Emirati restaurants in Abu Dhabi
Yadoo’s House Restaurant & Cafe
For the karak and Yoodo's house platter with includes eggs, balaleet, khamir and chebab bread.
Golden Dallah
For the cappuccino, luqaimat and aseeda.
Al Mrzab Restaurant
For the shrimp murabian and Kuwaiti options including Kuwaiti machboos with kebab and spicy sauce.
Al Derwaza
For the fish hubul, regag bread, biryani and special seafood soup.
