Saudi Trade Finance (STF) Summit, a by-invite only event, is set to return for its 4th annual gathering in Jeddah in November.
A primary focus for the 2016 STF is on enabling opportunities in the diversification of non-oil based economic congruent with Vision 2030.
Al-Rajhi Bank, a platinum sponsor at the 2016 STF Summit, in an interview recently asserted that Saudi Vision 2030 will unlock the full potential of the SME sector by addressing the challenges SMEs encounter, and by focusing on initiatives to increase the size of the SME segment and its participation in and contribution to the Kingdom’s GDP.
One way of increasing SMEs’ participation is to increase support and access to finance. If trade finance products and solutions were composed of low technical skills or terminology, the products will be more accessible to SMEs. As such SMEs will have resources to draft more innovative and offer other standardized products.
“SME financing is a challenging issue that cuts across the GCC. There is a need for new financial tools, products and policies to ensure the SME segment does not stagnate. At the 4th annual STF Summit, we will hear about the unique challenges SMEs face, and potential solutions to these from professionals in the banking and finance sector, and how trade finance can be applied to these challenges, especially in the current regional and global economic and trading contexts,” noted Sidh N.C., director, QnA International.
Another section of the STF Summit are the discussions and sessions on the current economic, financial, and trade environments in Saudi Arabia, the GCC region, and globally.
The changing roles of banks and financial institutions will also be a highlight of the summit.
Al-Rajhi Bank suggested that banks can play an advisory role by providing SMEs and other organizations information and data required for developing strategic visions for expansions across customer segments and markets, and the support and guidance necessary for managing and growing their businesses in a more efficient manner.
A primary focus for the 2016 STF is on enabling opportunities in the diversification of non-oil based economic congruent with Vision 2030.
Al-Rajhi Bank, a platinum sponsor at the 2016 STF Summit, in an interview recently asserted that Saudi Vision 2030 will unlock the full potential of the SME sector by addressing the challenges SMEs encounter, and by focusing on initiatives to increase the size of the SME segment and its participation in and contribution to the Kingdom’s GDP.
One way of increasing SMEs’ participation is to increase support and access to finance. If trade finance products and solutions were composed of low technical skills or terminology, the products will be more accessible to SMEs. As such SMEs will have resources to draft more innovative and offer other standardized products.
“SME financing is a challenging issue that cuts across the GCC. There is a need for new financial tools, products and policies to ensure the SME segment does not stagnate. At the 4th annual STF Summit, we will hear about the unique challenges SMEs face, and potential solutions to these from professionals in the banking and finance sector, and how trade finance can be applied to these challenges, especially in the current regional and global economic and trading contexts,” noted Sidh N.C., director, QnA International.
Another section of the STF Summit are the discussions and sessions on the current economic, financial, and trade environments in Saudi Arabia, the GCC region, and globally.
The changing roles of banks and financial institutions will also be a highlight of the summit.
Al-Rajhi Bank suggested that banks can play an advisory role by providing SMEs and other organizations information and data required for developing strategic visions for expansions across customer segments and markets, and the support and guidance necessary for managing and growing their businesses in a more efficient manner.
