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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Under the patronage of Ismail Sabri Yaakob, the Malaysian Prime Minister, Ajlan & Bros Holding Group signed agreements with leading Malaysian companies worth US$ 7 Billion.
Saudi Arabia conglomerate, Ajlan Bros Holding Group is set to invest close to RM34 billion (US$7.5 billion) in nine Malaysian companies, said Prime Minister Datuk Seri Ismail Sabri Yaakob. During the signing of the memoranda of understanding today, he said the nine companies are from the semiconductor, social trade, medical technology, defence and entertainment industries.
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