Samsung Electronics Ltd., has launched in partnership with FMP, one of its ally distributors, its first premium store in the Kingdom at the Red Sea Mall in Jeddah.
The store’s concept revolves around the ultimate showroom journey for smart devices and latest innovations by Samsung; including as-you-go services’ and technical support window for smartphones, TVs, digital cameras and house appliances.
Adnan Matbouli, CEO of United Matbouli Group, Kyung Tae Bae, regional Samsung president and CEO, Park Jae Cheon, Samsung Saudi general manager, were present at the event. Adnan Mandoura, guest of honor and JCCI secretary-general, opened the store.
Adnan Matbouli underlined the importance of his group’s valuable and strategic partnership with Samsung Electronics.
He said: “Our sustained growth and development translates in today’s opening of this premium store, and more importantly achieves the goal of always providing our customers with quality service and smarter products.”
Kyung Tae Bae said: “In the past, prices and designs of our devices were the key criteria and the main motive behind the consumer’s interest to buy. However today, consumers call on that specific added-value for each product to be unique and relevant for an easier and smarter life. We are proud today to materialize this demand and answer the call through offering the Saudi consumer the Samsung Premium Store model for a true brand experience”.
“This is only a start,” he added.
“We plan to launch more model stores to complement the value of our products.”
Adnan Mandoura was “impressed with the style and futuristic concept of the store and obviously Samsung’s aim to truly ‘live smarter’ while providing the Saudi consumers an easier and very modern high tech life.
Samsung Electronics opens premium store in Jeddah
Samsung Electronics opens premium store in Jeddah
Saudi Awwal Bank becomes first Middle East bank to earn 7-star CinOrg innovation accreditation
Saudi Awwal Bank has become the first bank in the Middle East to receive a 7‑star Certified Innovative Organization rating from the Global Innovation Institute, the highest recognition awarded by the institute.
The accreditation marks a significant step in SAB’s innovation strategy and follows an innovation maturity assessment conducted by the institute in December 2025. The review, which built on an earlier assessment in December 2023, raised the bank’s maturity level from “Champion” to “Leader.” The new rating reflects SAB’s institutionalized approach to innovation, its enterprise-wide impact and its ability to consistently deliver measurable results.
With the 7‑star rating, SAB becomes the first bank in the region to reach the highest innovation maturity level, strengthening its position as a regional reference point for innovation-led and future-ready banking.
In 2025, the bank opened its flagship Innovation Centre and secured six internationally recognized innovation awards, along with a lab accreditation. The centre has supported SAB’s efforts to accelerate the adoption of advanced technologies, encourage cross-functional collaboration and reinforce its standing as a regional leader in financial innovation.
Saeed Assiri, chief innovation banking officer at SAB, said the recognition reflects years of focused work to build a sustainable innovation ecosystem.
“By investing in SAB’s culture, governance and talent, innovation enables the bank to remain future-ready,” he said. “This milestone reinforces our role in accelerating financial innovation in Saudi Arabia and delivering long-term value for our customers.”
The certification adds to SAB’s broader efforts to strengthen its innovation capabilities as the Kingdom’s banking sector continues to evolve.
