SABB contributes to developing the future of trade finance in the Kingdom – Saudi News


The Saudi British Bank (SABB) presented its views on developing the future of trade finance in the Kingdom, during the discussion in the virtual dialogue sessions of the eighth annual Saudi Trade Finance Summit, which brings together an elite group of decision-makers, senior experts, specialists and leaders in the trade finance sector, from various government institutions and companies Commercial.

The summit was organized in its current version by default due to the conditions related to the Corona pandemic, which took place on November 16 and 17. Discussions focused on short-term measures and policies to avoid negative impacts on the economy for the post-epidemic stage and mitigate potential risks, in addition to discussing ways to accelerate digital transformation in the field of trade finance.

SABB has participated in sponsoring the work of this summit as a “platinum sponsor”, as it is the most important and influential event in the trade finance sector in the Kingdom. Laws and strategies that contribute to the growth of the Saudi economy.

During the discussion sessions, the Director General of Global Trade and Accounts Receivable Finance presented In SAP David Leslie a working paper entitled “Leading the Digitalization of Trade in the Kingdom of Saudi Arabia”, during which he talked about changing the digital strategy of “SAP”, increasing the speed of trade, and combining all of this in a common platform with partners in the field of trade, stressing the importance of digitalization as an important factor To accelerate the growth process while saving time, effort and cost, raising the transparency rate, and developing the secondary market. He concluded by reviewing some of the inspiring success stories and the lessons learned from them.

It is noteworthy that SABB is considered one of the leading banks in the field of trade finance, and has achieved priority in offering many products and services aimed at strengthening the role of trade finance, in an effort to stimulate the economy and develop business sectors, as it is one of the important engines to achieve the National Vision 2030.


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