Riyad Bank emphasized the active role that the Saudi banks and financial institutions across the Kingdom can play to increase the level of dependence on international and regional trade based on goods and services, aiming to achieve essential transformation to diversify the Kingdom’s economic base away from oil and gas sectors.

This was during the bank’s participation in the opening session of the Saudi Trade Finance Summit 2015, now in its 3rd edition, which was held in Riyadh on Nov. 10-11, amid participation from governmental and regulatory authorities as well as banking and financial institutions.

It was also attended by an elite group of leaders, experts and professionals specialized in the field of finance and treasury, along with representatives from insurance, trade and economic companies.

Mohammed Abo Al-Naja, EVP of corporate banking services division at Riyad Bank, said this summit gave the bank the opportunity to present its vision regarding the recent developments in the field of trade finance. He added that the bank provides a wide range of solutions and means that meet the Saudi trade and business society requirements.

He also commented that investing in the bank’s long experience and advanced technologies achieved a remarkable improvement in the quality of products and services especially designed for the trade finance field.