Al-Bilad Bank has signed an agreement with Saudi Telecom Company (STC) to provide housing loans to the company’s employees on favorable terms. The agreement was signed by STC Group CEO Dr. Khalid bin Hussein Al-Bayari, and Al-Bilad Bank CEO Abdulaziz bin Mohammed Al-Anizan at Saudi Telecom Company’s headquarters in the King Abdulaziz Complex in Al-Mursalat, Riyadh, yesterday.

This agreement complies with the regulations and provisions of Islamic Sharia and is in line with the best policies and agreements adopted regarding real estate financing in the Kingdom. It offers a special benefit to the company’s employees, allowing them to obtain a “good loan” without murabaha, reflecting Saudi Telecom’s commitment to providing the best programs and essential benefits to its employees. This important agreement is an extension of the existing cooperation between Saudi Telecom and Al-Bilad Bank, after it was selected, along with Samba Bank, to provide housing loans to employees, due to its extensive branch network and ability to meet the needs of the company’s employees at this stage through the best available housing loan options.