Al-Bilad Bank has signed a joint cooperation agreement with Taqnia Satellite Company that includes long-term financing to provide satellite communications services for internet, voice, and free-to-air television reception via satellite. Satcom Technology is a subsidiary of the Saudi Technology Development and Investment Company (Taqnia), which is wholly owned by the Public Investment Fund. Taqnia aims to transfer and commercialize technology, support the sustainable growth of GDP, and diversify the national economy.

The agreement was signed by Abdulaziz Al-Anizan, CEO of Al-Bilad Bank, and Engineer Abdullah Al-Osaimi, CEO of Taqnia Satellite, in the presence of executives from both organizations.
Al-Anizan noted that financing such national projects—which represent a qualitative leap in technology localization and support for national companies—is at the core of the bank’s plan and strategy to actively contribute to the implementation of the Kingdom’s Future Vision 2030, thereby strengthening the bank’s ability to establish and build integrated strategic relationships with shared goals alongside one of the most prominent companies specializing in the technology sector.