For decades, the Kingdom of Saudi Arabia has maintained a wealth of programs and government jobs for its citizens. However, recognizing the nation’s limited supply of oil and the outmoding of carbon-based fuels, the future Saudi leadership understands this model is unsustainable without making proper adjustments in the years to come. Nearly seventy-percent of labor pool is currently employed in the public sector and empowering the private sector will be essential if the 2030 Vision is to be reached. Luckily, the National Commercial Bank (NCB) is ready to meet this challenge. The largest financial entity in the Kingdom already assists over six-million customers worldwide and possesses nearly half a trillion Riyals in assets across the globe. And with a young, well-educated populace ready to take their place in the market, this is only going to increase.

With a vibrant population of new consumers, NCB will be looking to foster entrepreneurship and personal investment in the coming years. Whether this is encouraging small and medium-size enterprises, enabling the unemployed to cultivate marketable skills or educating the populace on personal finances, NCB plans will be there every step of the way. Banks help set up investments for young-couples, ensure a secure future for those providing for their families, and supply capital to those who create services bettering society. NCB is making this possible for the Saudi people by providing classes for the single-mothers to learn applicable skills (such as weaving baskets or creating pottery) to make money while being a homemaker. In addition, they are making micro-loans and reasonable interests rates available for entrepreneurs and small business owners, stoking the Saudi economy across varying industries. All the while NCB is educating the youth through high school and college-age classes aimed at fostering healthy personal finance before entering the market. The programs exemplify the NCB concept of ahalina and their push towards a model of increased corporate responsibility.

What sets the National Commercial Bank from their competitors is their commitment to the greater human family. As a part of encouraging a conscious corporate culture, NCB employees volunteer their time at charities and non-profits to help the less fortunate. Likewise, most of the programs mentioned above are not targeted at high-income clienteles, but rather focus on those who need assistance the most. There are a few words for family in Arabic, but that holding perhaps the greatest importance is ahalina, which refers to the most extended parts of one’s family. The support NCB provides is akin to that of an extended family member, stepping in when one might need it the most. In this spirit, NCB launched their program to assist orphaned children by providing health insurance and education for the future, paid for without any additional charges to nearly 7,000 children.

NCB exemplifies how finance is not only about money, but it is about those who need it most. It is with this attitude that the National Commercial Bank will carry the Kingdom into the future, to the vision of 2030 and beyond.

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My name is Cole McEldowney, I’m from the United States and study economic development and international business at Spring Arbor University. My interest in Saudi Arabia came from participating in Model Arab League through the Council on U.S.- Arab relations and wondering what the country I saw so often in the media was like. I was blown away by the hospitality and care taken from me while participating in GatewayKSA, the way they opened their country and culture to me was something I’ve never experienced before. There will most certainly be disagreements and conflicting interests in the politics surrounding our two nations in the future; However, I believe through cultural exchanges and people coming to visit the Kingdom for themselves will allow us to understand each other better in the future. This makes cooperation not only achievable, but inevitable.