Riyadh: Today, the National Centre for Privatization (NCP) has signed a cooperation agreement with Al Rajhi Bank to establish a collaborative framework between the two entities.

Recognizing the pivotal role of the local and international banking sector in the success of privatization efforts and facilitating partnerships between the public and private sectors, this agreement aims to strengthen this relationship.

The agreement was signed by the Vice President for Strategic Marketing and Knowledge Management at the NCP, Hani Al-Saigh, and the General Manager of Corporate Banking at Al Rajhi Bank, Hossam Al-Basrawi.

Al-Saigh emphasized that this agreement is part of a series of collaborative partnerships the NCP establishes with local and international banks and financial institutions. These agreements are designed to encourage companies, clients of these banks, to invest in privatization projects and promote partnerships between the public and private sectors.

The agreement focuses explicitly on enhancing opportunities and initiatives related to privatization and public-private partnerships for both local and international investors. This includes engaging in market surveys, providing financial consultations, organizing domestic and international marketing activities, coordinating events, conducting training programs, and fostering knowledge development.

Al-Saigh further highlighted that this agreement aligns with the NCP's commitment to empowering banks and financial institutions to support privatization operations and public-private partnerships actively. By participating in financing the private sector and offering consultations, these institutions can significantly contribute to attracting both local and international investments. This aligns with the goals of Saudi Vision 2030 to enhance the private sector's role in the domestic economy.