Saudi Arabia’s banks are ready to finance mega projects such as NEOM and Red Sea, Talaat Hafez, secretary-general of the Media and Banking Awareness Committee of Saudi Banks told CNBC.
Saudi lenders are also ready to support such mega projects with financial expertise and consultations, he said on the sidelines of Euromoney Saudi Arabia 2019 conference.
The Kingdom’s banking sector is strong and solid, whether in terms of its solvency which exceeds 20 percent or in terms of technology and financial security, as the sector draws its power from the economy which is currently at its best, he added.
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