London Daily

Focus on the big picture.
Monday, Aug 25, 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

0:00
0:00
Close
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
UK Government Delays Decision on China’s Proposed London Embassy Amid Concerns Over Redacted Plans
A 150-Year Tradition to Be Abolished? Uproar Over the Popular Central Park Attraction
A new faith called Robotheism claims artificial intelligence isn’t just smart but actually God itself
Deputy Prime Minister Angela Rayner Purchases Third Property Amid Housing Tax Reforms Debate
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Italian Facebook Group Sharing Intimate Images Without Consent Shut Down Amid Police Investigation
Dutch Foreign Minister Resigns Amid Deadlock Over Israel Sanctions
Trump and Allies Send Messages of Support to Ukraine on Independence Day Amid Ongoing Conflict
China Reels as Telegram Chat Group Shares Hidden-Camera Footage of Women and Children
Sam Nicoresti becomes first transgender comedian to win Edinburgh Comedy Award
Builders uncover historic human remains in Lancashire house renovation
Australia Wants to Tax Your Empty Bedrooms
MotoGP Cameraman Narrowly Avoids Pedro Acosta Crash at Hungarian Grand Prix
FBI Investigates John Bolton Over Classified Documents in High-Profile Raids
Report reveals OpenAI pitched national ChatGPT Plus subscription to UK ministers
Labour set to freeze income tax thresholds in long-term 'stealth' tax raid
Coca‑Cola explores sale of Costa coffee chain
Trial hears dog walker was chased and fatally stabbed by trio
Restaurateur resigns from government hospitality council over tax criticism
Spanish City funfair shut after serious ride injury
Suspected arson at Ilford restaurant leaves three in critical condition
Tottenham beat Manchester City to go top of Premier League
Bank holiday heatwave to hit 30°C before remnants of Hurricane Erin arrive
UK to deploy immigration advisers to West Africa to block fake visas
Nurse who raped woman continued working for a year despite police alert
Drought forces closures of England’s canal routes, canceling boat holidays
Sweet tooth scents: food-inspired perfumes surge as weight-loss drugs suppress appetites
Experts warn Britain dangerously reliant on imported food
Family of Notting Hill Carnival murder victim call event unmanageable
Bunkers, Billions and Apocalypse: The Secret Compounds of Zuckerberg and the Tech Giants
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
New York Appeals Court Voids Nearly $500 Million Civil Fraud Penalty Against Trump While Upholding Fraud Liability
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
Child-free hotels spark controversy
North Korea is where this 95-year-old wants to die. South Korea won’t let him go. Is this our ally or a human rights enemy?
Hong Kong Launches Regulatory Regime and Trials for HKD-Backed Stablecoins
China rehearses September 3 Victory Day parade as imagery points to ‘loyal wingman’ FH-97 family presence
Trump Called Viktor Orbán: "Why Are You Using the Veto"
Horror in the Skies: Plane Engine Exploded, Passengers Sent Farewell Messages
MSNBC Rebrands as MS NOW Amid Comcast’s Cable Spin-Off
AI in Policing: Draft One Helps Speed Up Reports but Raises Legal and Ethical Concerns
Shame in Norway: Crown Princess’s Son Accused of Four Rapes
Apple Begins Simultaneous iPhone 17 Production in India and China
A Robot to Give Birth: The Chinese Announcement That Shakes the World
×