Saudi Arabia’s appeal extends beyond rising foreign investment and expanding mega-projects to the banking sector, where institutions see the economic transformation driven by Vision 2030 as an opportunity to establish a long-term presence in one of the region’s fastest-growing markets. Bank of Jordan Group’s entry into the Kingdom reflects growing interest among regional financial institutions in tapping the country’s expanding investment cycle. The group opened its first branch in Riyadh on Monday, launching its financial and banking operations in Saudi Arabia. The move underscores the Kingdom’s ability to attract not only capital, but also financial institutions seeking to finance the next phase of investment. Mega-projects, private sector expansion and growing foreign and domestic investment are creating significant opportunities for banks to provide financing solutions and services to companies and investors. At the same time, Saudi Arabia is seeking to deepen the financial sector’s role as a driver of growth and economic diversification. Saleh Hammad, general manager of Bank of Jordan Group, told Asharq Al-Awsat that the bank’s strategy is based on a clear view of the economic transformations reshaping Saudi Arabia and the wider region. The group has pursued carefully considered regional expansion, focusing on markets with sustainable economic fundamentals and strategic importance, with Saudi Arabia at the forefront. Hammad said the Kingdom is undergoing an unprecedented economic transformation under Vision 2030, fueled by investment growth, private-sector expansion and the development of its financial and banking environment. Establishing a presence in one of the region’s leading financial and economic hubs strengthens Bank of Jordan’s position as a regional institution capable of supporting trade, development and investment opportunities, he noted. Hammad also highlighted Saudi Arabia’s strong banking system and evolving regulatory environment, supported by the Saudi Central Bank, as key advantages that enhance the group’s position while creating added value for clients and investors.
