King Abdullah Economic City Signs Shariah-Compliant Financing Agreement with Saudi British Bank

King Abdullah Economic City (KAEC), a privately-funded city in Saudi Arabia, has announced the signing of a cooperation agreement with the Saudi British Bank (SABB), according to local media reports.

The agreement will enable the SABB to provide various Shariah-compliant financing solutions to KAEC’s clients for housing offers and ready-made housing units in the residential areas of the Economic City, according to a statement released by KAEC recently.

Ahmed Ibrahim Linjawi, Chief Executive Officer of KAEC stated that the partnership with SABB will contribute to the development of the real estate market by providing financing solutions for housing requirements for all income levels, as well as providing real estate facilities to sectors approved by the SABB. In...