|Final agreement on a merger deal was announced one week after the Saudi government launched the Financial Sector Development Program, an executive program aimed at overhauling the Saudi financial sector to create an effective capital market capable of supporting the goals of the economic reform plans||SABB is one of the five largest Saudi banks by deposits and has over eighty branches across Saudi Arabia and one branch in|
|National Bank of Kuwait NBOK• In response to restrictions on foreign ownership of banks in , SABB was created in 1978 to manage HSBC branches and assets in the country||investment bank in the transaction|
This ensures that SABB Islamic Financial Solutions conforms to strict adherence to principles of Sharia.16
|Saudi Arabian Monetary Agency SAMA• Services [ ] SABB offers services in , , and||The Saudi Arabian Economy: Policies, Achievements, and Challenges 2 ed|
|, become Saudi companies with Saudi capital and limited their parent companies to ownership of forty percent of these new entities||The bank traces its origins to the which was acquired by HSBC in 1959|
History [ ] British Bank of Iran and the Middle East 1950 [ ] The British Bank of Iran and the Middle East, which became BBME , opened branches in and in 1950.
|SABB shareholders will own 73 percent of the new bank, which is expected to be chaired by Saudi businesswoman||Saudi British Bank 1976 [ ] In 1976 the enacted its sweeping policy of banking sector Saudization to address foreign banks' domination of the sector and its impact on the Saudi economy|
|National Bank of Bahrain NBOB• National Bank of Pakistan NBPA• The merger of the two banks was completed on 16 June 2019||Al Bank Al Saudi Al Fransi BSFR• The integration of the two banks was planned to completed in about 18 months|
The integration was planned to completely took place in about 18 months, which will result in retention of the brand name "" only.