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AL-MAWARID Bank S.A.L., the First Bank to Invest in Startups under Circular 331
 
 
“AL-MAWARID Bank S.A.L. & AM Financials” Announcement - 02-04-2012
AL-MAWARID Bank S.A.L. and AM Financials announced that AL-MAWARID Bank shall gradually absorb the portfolio of AM Financials.

Announcement

AL-MAWARID Bank S.A.L. and AM Financials announced that AL-MAWARID Bank shall gradually absorb the portfolio of AM Financials. This process comes in an effort to provide AM Financials’ existing clients with a wider array of services, ranging from simple trading to full banking.

We expect this step to present the clients with better investment opportunities and a full range of services 24 hours a day, 365 days a year.

This change will strengthen the balance sheet of AL-MAWARID Bank, which currently controls along with its major shareholders 75% of AM Financials shares.