NCB and Mastercard launch credit card for corporates

The AlAhlieCorp portal enables best-in-class relationship management.
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Updated 25 February 2021
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NCB and Mastercard launch credit card for corporates

Mastercard and the National Commercial Bank (NCB) have launched a new corporate credit card offering the bank’s corporate and micro, small and medium enterprise (MSME) clients a range of financial solutions. 

The Mastercard Corporate World card allows companies to effectively manage their expenses and corporate payment needs. The card aims to maximize companies’ financial control and provide them with full visibility in order to reduce costs and enhance cash flow. 

J.K. Khalil, country manager, Saudi Arabia, Bahrain and Levant, Mastercard, said: “As a trusted technology leader and proud supporter of the business community, we are delighted to collaborate with NCB to expand inclusion for best-in-class financial control, B2B expenditures and corporate travel benefits. We remain committed to helping businesses by offering innovative tools and payment solutions that enable them to make the most of the digital economy and an ever-strengthening payment ecosystem.” Majed Al-Ghamdi, chief executive of retail, NCB, said: “We are delighted to once again collaborate with Mastercard for another solution which we believe will provide strong value to businesses by offering the tools to enhance efficiency as well as meet their working capital requirements. Through the commercial credit card, our large corporate customers as well as SME clients will be able to make cashless transactions seamlessly and conveniently, while maintaining a stronger control over their cash flows. Furthermore, the initiative will add benefits to our corporate customers, such as control of spending and compliance with corporate policies.” 

The new corporate credit card delivers a range of innovative benefits and product offerings designed for the diverse needs of large corporations. Additionally, the dedicated self-service portal on AlAhlieCorp responds to requests and enables best-in-class relationship management. The card also offers consolidated e-statements and spending trends, so that cardholders and the management can benefit from simplified reconciliation and enhanced, integrated reporting.

The new credit card features a host of offers and rewards, including complimentary airport lounge access in more than 1,000 lounges across 300 cities with LoungeKey. It further includes complimentary travel and accident insurance, cover for medical emergencies, trip cancellations and lost baggage, in addition to other value-added benefits.

Additionally, companies that request an NCB corporate credit card before June 30 will have their annual fee waived for the first year.


Luxury meets the sea at Sofitel Bahrain’s water villas

Strategically positioned for uninterrupted Arabian Sea views, these villas offer a level of privacy rarely found in the region.
Updated 14 July 2025
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Luxury meets the sea at Sofitel Bahrain’s water villas

  • “These overwater villas represent a new era of luxury in Bahrain, offering an experience that was once only found in remote island destinations,” said Mehdi Hanayan, cluster general manager of Sofitel Bahrain Zallaq Thalassa Sea and Spa

Sofitel Bahrain Zallaq Thalassa Sea and Spa has introduced a new pinnacle of luxury hospitality with its exclusive overwater villas — an experience that seamlessly blends French refinement with Bahraini heritage. Nestled above the tranquil waters of the Arabian Gulf, these four private retreats — Emerald, Ruby, Pearl and Topaz — offer an extraordinary escape, redefining seclusion and indulgence in the region.
Each villa spans an expansive 360 square meters, featuring a master suite, two additional bedrooms, an elegant living area with panoramic sea views, and a private deck with a temperature-controlled infinity pool. With space to accommodate up to nine guests, these villas provide an intimate yet ultra-luxurious retreat designed for those who seek privacy without compromise.

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With space to accommodate up to nine guests, these villasprovide an intimate yet ultra-luxurious retreat designed for those who seek privacy without compromise.

Strategically positioned for uninterrupted Arabian Sea views, these villas offer a level of privacy rarely found in the region. Whether waking up to the sound of gentle waves or unwinding in a private infinity pool against a backdrop of breathtaking sunsets, guests are immersed in pure serenity.
Inside, every detail has been thoughtfully curated to enhance the guest experience. From Balmain Paris bathroom amenities to an integrated Bose audio system and a 65-inch Smart LED HDTV, each villa offers world-class comforts in an intimate setting. Guests can also enjoy a Nespresso coffee machine, complimentary Wi-Fi, and a fully equipped dining area with a kitchenette for bespoke in-villa dining.
While the villas offer complete seclusion, guests have full access to Sofitel Bahrain’s award-winning facilities, including the renowned Thalassa Sea and Spa, pristine private beaches, and an array of fine dining options. Whether indulging in a rejuvenating spa treatment, enjoying a sunset stroll along the beach, or savoring exquisite French-Arabic fusion cuisine, every aspect of the Sofitel experience is designed to cater to the most refined tastes.
“These overwater villas represent a new era of luxury in Bahrain, offering an experience that was once only found in remote island destinations,” said Mehdi Hanayan, cluster general manager of Sofitel Bahrain Zallaq Thalassa Sea and Spa. “We are proud to bring this level of exclusivity to the Arabian Gulf, seamlessly blending French sophistication with Bahraini warmth to create an extraordinary retreat for our guests.”
With their exquisite design, unparalleled privacy and breathtaking setting, these villas are an experience. Whether for an intimate honeymoon, a last minute getaway, or a private family holiday — Sofitel Bahrain’s overwater villas set a new benchmark for luxury hospitality in the region.
Exclusive and rare, these overwater villas are available for reservations now. Escape to the Arabian Gulf’s most extraordinary retreat — where luxury meets the sea.

 


SAB named ‘best bank’ in Saudi Arabia for 2025

Updated 14 July 2025
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SAB named ‘best bank’ in Saudi Arabia for 2025

  • In support of Vision 2030, SAB expanded its mortgage portfolio to SR35 billion, enhancing access to homeownership

Saudi Awwal Bank, one of the leading banks in the Kingdom, has been named “Best Bank in Saudi Arabia for 2025” by Euromoney, recognizing the bank’s strong financial performance, continued digital advancement, and commitment to social responsibility over the past year.
In 2024, SAB reported a net profit of SR8.07 billion ($2.15 billion), a 15 percent increase over the previous year. Its operating income reached SR14 million, supported by a 16 percent return on tangible equity, reflecting consistent performance and effective capital deployment.
Lending remained a key area of growth, with net loans and advances rising by 20 percent to reach SR259 billion, in line with SAB’s strategy to support the financing needs of individuals and businesses across the Kingdom.
SAB continued to strengthen its digital capabilities, expanding its share of the digital payments market to 17.3 percent. The bank launched SAB 360°, an AI-powered platform offering clients real-time financial insights and streamlined onboarding processes through an enhanced KYC platform, reducing processing time by 40 percent. It also maintained its focus on convenience and security by being one of the early adopters of Samsung Pay in the local market.

In support of Vision 2030, SAB expanded its mortgage portfolio to SR35 billion, enhancing access to homeownership. The bank also progressed its ESG agenda, financing renewable energy projects generating a combined 4.5 GW of clean energy capacity, and introduced Shariah-compliant ESG investment solutions for private banking clients.
Tony Cripps, managing director and CEO of SAB, said: “This award reflects the strength of our business model, the dedication of our people, and our commitment to leading with purpose. We are proud to play a key role in shaping the future of banking in the Kingdom and supporting national transformation.”
The recognition reinforces SAB’s position as a trusted financial partner, focused on delivering long-term value to its customers, shareholders, and the broader financial ecosystem in the Kingdom.

 


CARE KSA powers Kingdom’s $266bn vision for sustainable future

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Updated 14 July 2025
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CARE KSA powers Kingdom’s $266bn vision for sustainable future

  • The series opened with the CARE Dialogues on June 24 — an exclusive, invite-only session, held in Dubai under the theme “Green Finance and Beyond: Driving ESG Across Sectors”

Trescon has unveiled the Saudi edition of CARE — the Climate Action and Renewable Energy Expo, debuting in Riyadh on Dec. 8–9. This is in response to Saudi Arabia’s ambitious clean energy and sustainability vision and the global urgency for climate solutions.
As a cornerstone of the global CARE series — alongside editions in India and Dubai — the Saudi edition is dedicated to advancing climate action, clean energy adoption, and sustainable finance through meaningful public-private collaboration. With 10,000+ attendees, 950 investors, 225 sponsors, and 200+ global speakers expected across the series, CARE is built for action, driving transformative dialogue, deal-making, and cross-border partnerships across more than 100 countries.

CARE KSA will bring together global innovators and Saudi stakeholders to accelerate tangible outcomes in renewables, climate tech, and green finance, says Naveen Bharadwaj, Group CEO of Trescon

The series opened with the CARE Dialogues on June 24 — an exclusive, invite-only session, held in Dubai under the theme “Green Finance and Beyond: Driving ESG Across Sectors.” Powered by Emtribe, the event convened senior leaders from finance, policy, and technology to explore practical strategies for embedding ESG into core business models.
“As a partner of CARE, we’re proud to back a platform that focuses on what really matters — getting the right people in the room and driving honest, outcome-focused conversations,” said Mohammed Saleem, founder of Emtribe. He added: “There’s a lot of talk in this space. CARE stands out by pushing for action that’s practical, collaborative, and needed.”
As the first official prelude to CARE, the session set the tone for cross-sector collaboration and is helping shape a summit agenda grounded in real-world priorities and regional relevance.
Saudi Arabia is driving a transformative energy shift. Under Vision 2030, the Kingdom has committed more than $266 billion to renewable energy and sustainable development, aiming for 50 percent renewable electricity by 2030. 

 

 


STC Bank launches new savings product ‘Numu+’

Updated 13 July 2025
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STC Bank launches new savings product ‘Numu+’

STC Bank has launched a unique savings product — “Numu+” — which will encourage customers to save through an innovative concept. It includes valuable rewards and gifts, such as luxury cars, cash, and electronic devices, offered by the bank as an incentive to grow their personal savings.

“Numu+” was primarily designed as an account that enables customers to save through a unique experience via the bank’s app. The product is in line with Vision 2030, specifically the Financial Sector Development Program, and the goal of raising the savings rate across the Kingdom from six to 10 percent. It also continues STC Bank’s efforts to introduce innovative digital products that enhance the financial solvency of various customer segments.

STC Bank’s continued growth is driven by its customer-centric digital financial services platform, which allows individual users to open a bank account with an IBAN number. This allows customers to enjoy a host of benefits, including the “Numu+” savings service, instant local and international transfers at competitive rates via mobile numbers, card services, an online store, expense monitoring and financial planning features, and other daily financial transactions, all of which have become easier than ever before.


SAB signs on as mentor in ministry’s sustainability program

Updated 13 July 2025
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SAB signs on as mentor in ministry’s sustainability program

SAB will mentor a select group of prominent organizations, including Dallah Healthcare Company, Rawabi Holding Company, Middle East Paper Company, and City Cement Company. 
Saudi Awwal Bank, one of the leading banks in the Kingdom, has announced its participation in the Ministry of Economy and Planning’s Sustainability Champions Program. The official signing ceremony took place on May 28 at SAB Tower, marking a key milestone in SAB’s commitment to sustainability.
The MEP Sustainability Champions Program aims to enhance sustainability performance across key sectors by partnering with organizations that demonstrate leadership and a commitment to sustainable practices. As a mentor in the program, SAB will utilize its extensive experience and resources to support and guide its mentees on their sustainability journeys.
As part of its role, SAB will mentor a select group of prominent organizations in the program, including Dallah Healthcare Company, Rawabi Holding Company, Middle East Paper Company, and City Cement Company. This initiative marks the beginning of a collaborative effort to enhance sustainability practices across key sectors and achieve Vision 2030 goals.
Tony Cripps, managing director of SAB, said: “Sustainability is no longer a choice — it’s a responsibility. Through our partnership with the MEP Sustainability Champions Program, SAB is taking tangible steps to build the knowledge infrastructure around sustainability and contribute to the Kingdom’s goals. We are proud to be part of this forward-looking initiative, which aligns with our environmental, social and governance strategy and our commitment to supporting sustainable economic growth.”
The signing ceremony marked the beginning of a strategic collaboration focused on sustainability. Senior executives from SAB and the participating mentees attended the event, emphasizing the shared commitment to advancing sustainability across key sectors.
SAB continues to demonstrate its leadership in sustainability through its comprehensive ESG strategy. The bank is actively engaged in various initiatives that foster sustainable economic development in line with Saudi Vision 2030. Through its partnerships with governmental bodies, such as the Ministry of Economy and Planning, SAB plays a key role in driving forward the Kingdom’s sustainability aspirations, contributing to long-term, positive environmental and societal impacts.