Saudi NCP, Crédit Agricole CIB Arabia Financial sign joint cooperation deal

By Arya M Nair, Official Reporter
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Saudi NCP_Credit Agricole CIB partnership
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National Center for Privatization (NCP) of the Kingdom of Saudi Arabia has signed a joint cooperation agreement with Crédit Agricole CIB Arabia Financial, a wholly owned subsidiary of France-based Crédit Agricole CIB, the corporate and investment banking arm of Crédit Agricole Group.

The agreement aims at cooperation and coordination between the two parties and the exchange of experiences, knowledge, data and information according to the competence of each party, in a way that serves common interests and enhances the investment environment in the targeted sectors.

The agreement was signed by Mr. Muhannad Basudan, CEO of NCP, and Mohamed Naeem Azhar Khan, CEO of Credit Agricole CIB Arabia Financial, in the presence of Mr. Mohammed bin Abdullah Al-Jadaan, the Minister of Finance, Chairman of the Board of Directors of NCP.

It includes several frameworks of cooperation, most notably expanding the bank’s participation in market surveys for privatization projects, motivating it to participate in financial consultations for privatization and partnership projects and opportunities, in addition to attracting interested investors among the company’s clients in privatization and partnership projects and opportunities between the public and private sectors, and organizing local and international events targeting investors, who are interested in privatization opportunities.

It is worth mentioning that this agreement comes as a continuation of the cooperation agreements signed with local and international banks, and in an effort by NCP to attract international and local expertise in privatization and partnership projects between the two sectors and cooperation with banks and financial companies.

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