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.