12 November 2025

Riyadh, Saudi Arabia –12 November 2025: Saudi Awwal Bank (SAB), one of the leading banks in the Kingdom of Saudi Arabia, announced the launch of "Instant Account Opening for Sole Proprietorships” a new digital solution designed for small and medium enterprises (SMEs). The launch took place during Biban 2025, organized by the Small and Medium Enterprises General Authority (Monsha’at), from November 5 to 8 at the Riyadh Front Exhibition & Conference Center under the theme “A Global Destination for Opportunities.”

The new solution underscores SAB’s commitment to empowering SMEs in the Kingdom through innovative, secure digital banking services that simplify account opening. It supports the bank’s ongoing efforts to advance Vision 2030 by helping businesses grow and contribute to economic diversification.

The service enables business owners to open accounts instantly through a fully digital platform that completes every step online. It offers a faster, more convenient banking experience while expanding access for the SME sector.

Yasser Al-barrak, Chief Corporate and Institutional Banking Officer at SAB, said: “At SAB, we continue to invest in technology that transforms the way our customers do business. The instant account opening platform marks a major step forward, allowing entrepreneurs to start their banking relationship within minutes through a secure digital process." 

SAB’s Corporate Account Opening Platform has received the “Global SME Banking Innovation Award” for three consecutive years from The Digital Banker publication. The platform now enables businesses to open accounts within minutes and instantly access banking services through the SAB iCorp app, including payroll management and other key features.

By launching this new digital service, SAB strengthens its role in supporting entrepreneurship and driving financial innovation across Saudi Arabia. The bank continues to invest in digital solutions that empower business owners and contribute to a thriving, sustainable SME sector.