Saudi’s Ministry of Finance and the National Center for Debt Management has partnered with Al-Ahly Financial Company to develop and launch savings bonds for individuals, and motivate them to save.
This also includes discussing strategic partnerships with the private sector.
The entities signed a deal regarding this, which is aimed at enhancing the concept of saving in Kingdom, a part of the Financial Sector Development Program to enable financial planning.
Chairman of the Steering Committee, Abdulaziz Al-Fraih, Ministry of Finance signed the deal, while National Center for Debt Management, CEO Hani Al-Madini, and Rashid Ibrahim Sharif, CEO and Board Member of Al-Ahly Financial Company inked deal on behalf of their entities.
Hani Al-Madini stated that the deal is an invitation to the private sector to cooperate and participate in the development and launch of a number of savings products for specific goals and for different categories of individuals, whether through banks, fund managers, fintech companies and others.