Al Rajhi Bank opens in Sabah as development corridor takes off

The opening of an Al Rajhi Bank Malaysia in Sabah is deemed timely as it coincides with the taking off of the Sabah Development Corridor, introduced over three years ago.

Chief Minister Datuk Seri Musa Aman said Al Rajhi Bank is one of the important investors in Sabah while positioning itself to capture a wider market for its goods and services, reports Bernama.

"We are confident Al Rajhi Bank's presence here will have a multiplier effect on the flow of foreign direct investments," he said, when opening the bank's branch at Wisma Muis.

He also said Al Rajhi Bank could provide small and medium industries in Sabah a wider choice of financing products and services.

Musa said Sabah was looking forward to forming new partnerships with a wider range of investors as the bank, the flag-bearer of Saudi Arabia, had the potential to galvanise a continuous flow of investments from the Middle East and North Africa.