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Al Salhabi Group Secures $98 Billion USD Loan for HSBC Oman and HSBC Jordan

by Busines Newswire
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Riyadh, Saudi Arabia – June 4, 2024 – Al Salhabi Group, a prominent Saudi Arabian conglomerate, has successfully secured a $98 billion USD loan to support HSBC operations in Oman and Jordan. This significant financial arrangement underscores Al Salhabi Group’s strategic vision and commitment to fostering economic growth in the region.

Strategic Financial Support

The $98 billion USD loan is set to provide substantial support to HSBC Oman and HSBC Jordan, facilitating their expansion and enhancing their capabilities to offer a wide range of financial services. This financial injection aims to strengthen HSBC’s presence in these key markets, enabling the bank to better serve its customers and contribute to regional economic development.

  1. HSBC Oman: The loan will bolster HSBC Oman’s operations, allowing the bank to expand its retail and corporate banking services. This includes the development of new financial products, improved digital banking solutions, and enhanced customer service capabilities. The funding will also support local businesses by providing increased access to capital, fostering entrepreneurship, and stimulating economic growth.
  2. HSBC Jordan: Similarly, HSBC Jordan will benefit from the financial boost, which will enhance its ability to offer comprehensive banking services to individuals and businesses. The loan will facilitate the expansion of HSBC Jordan’s branch network, the introduction of innovative banking technologies, and the provision of tailored financial solutions to meet the diverse needs of its clients.

Commitment to Regional Economic Development

Al Salhabi Group’s decision to secure this substantial loan reflects its commitment to supporting the economic development of the Middle East. By partnering with HSBC, Al Salhabi Group aims to leverage the bank’s extensive expertise and global network to drive economic progress in Oman and Jordan. This strategic collaboration is expected to create numerous job opportunities, support local businesses, and contribute to the overall economic stability of both countries.

Statements from Leadership

HRH. Ismail Madish Ali Al Salhabi, Chairman of Al Salhabi Group, commented, “We are thrilled to announce this significant financial arrangement with HSBC Oman and HSBC Jordan. Our commitment to fostering economic growth in the region remains steadfast, and this loan represents a major step forward in achieving our strategic objectives. We are confident that our partnership with HSBC will yield substantial benefits for the economies of Oman and Jordan.”

Mr. Martin Tricaud, CEO of HSBC Middle East, expressed his appreciation, stating, “We are grateful to Al Salhabi Group for their trust and support. This substantial loan will enable us to enhance our operations in Oman and Jordan, providing our customers with superior banking services. We look forward to working closely with Al Salhabi Group to drive economic development and create lasting value for our clients and communities.”

Future Prospects and Impact

The secured loan from Al Salhabi Group is expected to have a far-reaching impact on the banking sectors in Oman and Jordan. The financial support will enable HSBC to expand its service offerings, enhance customer experience, and drive innovation in banking solutions. Moreover, the investment will stimulate economic activity, create employment opportunities, and contribute to the overall prosperity of the region.

About Al Salhabi Group

Al Salhabi Group is a leading conglomerate in Saudi Arabia, renowned for its diverse portfolio of businesses spanning various industries. With a commitment to excellence, innovation, and sustainable growth, Al Salhabi Group has established itself as a key player in the region’s economic development.

About HSBC

HSBC is one of the world’s largest banking and financial services organizations, serving millions of customers globally. With a strong presence in the Middle East, HSBC is dedicated to providing comprehensive banking solutions and fostering economic development in the region.

For further information, please contact:

Al Salhabi Group
Public Relations Department
Website: www.al-salhabigroup.com