QNB Group has 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 Abdulla Mubarak al-Khalifa, and Ajlan & Bros Holding Chairman of the Board of Directors Ajlan bin Abdulaziz Alajlan signed the agreement.
Deputy Group CEO of Ajlan & Bros Holding Ajlan Mohamed Alajlan and a number of senior management representatives from both sides also attended the signing ceremony.
“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,” QNB said last night.
Ajlan & Bros is one of the largest retailers and manufacturers in the Middle East, with its brand recognised and present in more than 25 countries across the world.
QNB Group, currently ranked as the most valuable bank brand in the Middle East and Africa, is proud to be the Official Middle East and Africa Supporter of the FIFA World Cup 2022.
Through its subsidiaries and associate companies, the Group extends to more than 30 countries across three continents providing a comprehensive range of advanced products and services.
The total number of employees is 27,000 operating through 1000 locations, with an ATM network of more than 4,700 machines.