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An increased focus on digitalization also raises new risks that Bank Albilad has been working to mitigate, with a commitment to vigilance and resilience in the digital domain.

Our vigilance extends beyond the boardroom, encompassing both internal users navigating our banking systems and external collaborators with whom we have strategic business relationships.

In 2023, we strengthened our security policies, streamlined access to necessary data, and improved our reporting procedures. This has delivered increased security and resilience, ensured regulatory compliance, and allowed rapid responses to any threats.

In 2023, the proactive approach we have taken has resulted in no significant security incidents, 100% of issues identified resolved, 80% completion of security awareness training, and the meeting of a 98% SLA for incident response.

Our primary focus is ensuring that customer and corporate data is safeguarded.

From the integration of cutting-edge technologies to continuous employee training, our work in 2023 has increased our preparedness navigate the increasingly complex threats that exist in the digital landscape.

This approach aligns with Vision 2030, proactively raising awareness, automating systems, and conducting meticulous risk assessments to fortify the bank’s growth and stability.

Beyond compliance, our information security measures resonate with corporate social responsibility initiatives. They not only ensure a secure banking environment but also contribute to the ethos of responsible, secure electronic transactions that increasingly provide a bedrock for wider economic activity across the Kingdom.

As our digital journey continues, our commitment to security forms an integral thread, securing not just individual transactions but supporting a secure and resilient financial landscape that gives customers, stakeholders, and businesses confidence in the new tools that continue to transform banking in the Kingdom.