<p>The National Commercial Bank (NCB) recently signed an agreement with King Khalid Foundation to give financial donations to the best charity foundations that were able present a plan of a charity project. The aim of this initiative is to support training programs and build the capabilities of charity foundations’ staff to promote efficiency, effectiveness and performance, which will be positively reflected on the society. The list of wining projects included Qualifying the Adolescents project presented by Charity Society for Marriage & Family Care in Baha, Rehabilitation of Visually Impaired project presented by Ebsar Foundation, My Skill is Enough project presented by Albir Society Jeddah, and Qualifying the Job Seekers from Ensan Committee project presented by Charity Committee for Orphans Care (Ensan), Riyadh. Each foundation received a financial donation at the value of SR 200,000.</p>
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<p><a href="http://www.arabnews.com/news/455154" title="http://www.arabnews.com/news/455154">http://www.arabnews.com/news/455154</a></p>
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<p>Saudi Arabia’s General Authority of Civil Aviation hired three banks for a local-currency sukuk. The Saudi Arabian affiliate of HSBC Holdings Plc (HSBA), National Commercial Bank’s investment banking unit and Standard Chartered Plc will manage the sukuk sale. NCB Capital and Standard Chartered bid jointly for the mandate. It was not specified how much the authority sought to raise, neither was the timing of the sale. GACA said last year it plans to issue a second tranche of notes to fund an airport expansion in the Saudi capital, Riyadh. The company sold Islamic debt last year at 2.5 percent and used proceeds to finance an airport expansion in the Red Sea port city of Jeddah.</p>
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<p><a href="http://www.bloomberg.com/news/2013-06-11/saudi-civil-aviation-said-to-pick-hsbc-ncb-stanchart-for-sukuk.html" title="http://www.bloomberg.com/news/2013-06-11/saudi-civil-aviation-said-to-pick-hsbc-ncb-stanchart-for-sukuk.html">http://www.bloomberg.com/news/2013-06-11/saudi-civil-aviation-said-to-pi…</a></p>
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