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SABB Contributes to Trade Finance Development in KSA

November 2020

David-Leslie 

The Saudi British Bank (SABB) presented significant insights on developing the future of trade finance in the Kingdom, during a virtual discussion dialogue on the 8th Annual Saudi Trade Finance Summit, which brings together a group of decision-makers, senior experts, professionals and leaders in the trade finance sector from various governmental and private institutions.

This year the summit was organized virtually due to COVID-19 pandemic, and it took place on the 16th and 17th of November. Discussions focused on short-term policy actions helping to avoid a deeper negative impact on the economy and to mitigate the potential risks post-pandemic, in addition to discussing ways to accelerate digital transformation in the field of trade finance.

SABB participated as a platinum sponsor, as it is considered one of the most important events in the Kingdom’s trade finance sector. In addition to providing solutions and exchanging ideas on building financial resilience, developing trade finance tools, as well as discussing laws and strategies that contribute to the growth of the Saudi economy.

David Leslie, General Manager of Global Trade and Receivable Finance at SABB, participated with a working paper titled “Driving Trade Digitalization in Saudi Arabia,” where he discussed the bank’s game changing digital strategy, increasing the velocity of trade, and bringing this all together into a common platform including all the value chain partners in the Trade Finance ecosystem. David also emphasized the importance of digitaliization as a significant factor in accelerating growth, increasing transparency, and developing the secondary market in Trade Finance assets.

SABB is considered the leading bank in trade finance in Saudi Arabia, offering a complete range of products and services, traditional and cutting edge, all aimed at promoting the role of trade finance. In turn stimulating the economy and providing liquidity to Saudi business development in order to achieve the objectives of Vision 2030.