Saudi Press

Saudi Arabia and the world
Monday, Jun 02, 2025

Saudi British Bank Unveils Trade Finance Tool

Saudi British Bank Unveils Trade Finance Tool

Saudi British Bank (SABB) has unveiled a Shariah-complaint supply chain finance tool, billed as the first of its kind in Saudi Arabia.
As Arab News reported, the launch aligns with the Saudi Vision 2030 program to increase small to medium-sized enterprise financing.

Supply chain finance, or “payables finance,” is a system based around buyer risk, in which the seller takes on the cost of discounting. This tool lets suppliers access funding according to the buyers’ credit standing, without tapping into their own credit lines.

“This innovative solution comes within the bank’s continuous endeavors to contribute to achieving the Kingdom’s vision and play our role as a major financial institution to stimulate economic and commercial growth,” said Majed Najm, deputy managing director of corporate and institutional banking at SABB.

“In addition to our approach to innovating quality banking products in the market, SABB is well positioned to leverage its local expertise and broad international presence through HSBC’s network to lead the market in order to support businesses in line with Vision 2030.”

Najm added that the solution will “open new avenues for customers to better manage their budget by classifying payables as commercial without classifying them as financing in their balance sheets.”

In addition, it provides customers with better opportunities for negotiating credit terms and prices with their suppliers.

“Given the benefits to all parties, this structure is expected to be very popular, especially given the fact that it’s Shariah-compliant,” Najm said.

Announced in 2016, Vision 2030 is Saudi Arabia’s initiative to reduce the kingdom’s reliance on petroleum, diversify its economy and build up sectors such as infrastructure, education, health, tourism and recreation.

Earlier this year, Saudi Arabia’s Saudi Payments Network announced a partnership with IBM and Mastercard to launch an instant payments system — known as “sarie” — that is in line with the Vision 2030 program, which calls for a 70% rise in non-cash transactions by that date.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
×