The trade services window is providing consultancy, advice and services that include letters of credit, bank guarantees and documentary collections.

The expansion of trade services and making them available for different market segments in various locations is one of SHB's “Al-Heen Strategy,” which aims to ensure that Saudi businesses are able to obtain credit and other banking services as quickly and conveniently as possible.

The bank has now established two trade services windows with the first one commencing operations in Balad district of Jeddah in April this year. These windows conduct their activities under the umbrella and management of the trade services units located in the regional offices of the SHB. The expansion in trade outlets will support the growth in the country's economy and meet the high demand for trade needs by corporate and small businesses.

“The SHB developed the concept of having full trade services at various locations to support the rising demand among different market segments for trade products while offering speedy and effective services in a flexible manner,” said Zaki Jawad, head of transaction banking group. “These two windows, which we envision will be the first of many, will exist alongside our well established regional trade services units to provide corporate and small businesses with the very best in banking services and support.”

He added: “The SHB intends to make banking easier for Saudi businesses, especially those in the small to medium business sector. Our aim is not only to offer all that a business may need in terms of credit and financial services, but also to be able to offer those services in a speedy fashion. In addition to corporate, small to medium businesses will be a major contributor to the growth of this great country's economy and employment. Therefore, they need a bank that understands their business requirements and is able to handle their needs.”

In May, the SHB partnered with the International Finance Corporation to provide financial advisory services for small and medium enterprises as part of a strategy to introduce credit policies, processes, products and services that will simplify the banking experience for small to medium businesses.

The bank's latest strategy aims to strengthen Saudi Hollandi's position as the leading provider of financial services to the Kingdom's business community.

“We've already had a positive response to the opening of our first trade services window at the Balad branch since its opening six months back. We aim to open more full trade services windows soon for the Saudi business sector in more regions across the country,” Jawad said.