KAEC – The Saudi British Bank (SABB) has signed an agreement with King Abdullah Economic City (KAEC) which will make SABB the first bank to open a branch in KAEC. The event was attended by Fahd Al-Rasheed, Managing Director and CEO of King Abdullah Economic City; David Dew, SABB Managing Director; and Faisal Faruqi, KAEC Chief Financial Officer, as well as a number of senior executives from SABB and KAEC. Speaking after the signing ceremony held in Bay La Sun Village on the coast of the city, Al-Rasheed, said: “We warmly welcome Saudi British Bank to KAEC where it will become a vital part of the city's everyday life, serving residents with the full range of retail banking services and providing business customers with world class corporate services as they start up their enterprises in the economic city.” David Dew said: “We are delighted to be the first bank to open in KAEC, and to be able to serve KAEC residents as well as providing services for corporate customers. We look forward to becoming members of a thriving and prosperous community in KAEC and playing a leading role in the city's economic growth and development.” Occupying almost a fifth of the prime building in the Business Park, SABB's 925 sqm branch is due for handover in May 2013 and is scheduled to open in September 2013. — SG
