About

Saudi Arabia’s National Commercial Bank (NCB) is a regional banking giant, a status it has achieved on the back of its innovative financial products. These have seen it rise to the rank of second in size when measured by assets in the Arab banking sector, and are largely focused on providing specifically Islamic, Sharia-compliant financial services. Indeed, at the end of 2014 the bank announced its intention to become fully Islamic in its operations in the near future, as part of a landmark $6bn IPO deal for the bank around this time. Still primarily owned by the Saudi government, the bank, recently reported increased profits for Q2 2016, despite scaled-back investment targets in response to the prevailing banking climate in Saudi Arabia. Effective governance, particularly important at times of increased market pressure, is one of the areas the in-house team at NCB can provide invaluable support. The legal team at NCB is also engaged with ensuring compliance with Saudi Arabian Monetary Agency (SAMA) guidelines, and advises on cross-border transactions and disputes.