SABB committed to trade finance development in KSA

SABB received the ‘Best Bank for Commodity Finance’ award during the event.
Updated 04 December 2019

SABB committed to trade finance development in KSA

SABB presented important insights about the future of trade finance in Saudi Arabia during the 7th Annual Saudi Trade Finance Summit.

The event, held in Riyadh, was attended by a group of decision-makers, senior experts, professionals, and leaders in the trade finance sector from various governmental and private institutions.

SABB, which was the platinum sponsor of the summit, participated in providing solutions, exchanging ideas to develop trade finance tools, discussing the laws, strategies, and trends of trade finance, during the summit sessions.

SABB also received the “Best Bank for Commodity Finance” award.

The annual summit is considered to be one of the most important events in the Kingdom’s trade finance sector.

Ahmad Alalawi, head of origination and client advisory at SABB, participated with a working paper titled “Saudi Trade Finance Trends and Challenges in 2020,” where he discussed effects of the global trade wars on Saudi trade, the new opportunities in changing the local regulatory environment, and new trade products and the value they can add to the Saudi market.

Another working paper was presented by Sean Bowey, head of global trade and receivables finance products at SABB, titled “Saudi Trade Market Digitization as a Part of an International Trend,” where he stressed that trade finance is coming to unprecedented growth, pointing out to the benefits to banks and customers in Saudi Arabia as an outcome. He also highlighted the importance of developing global standards and digital products in relation to finance, and emphasized the importance of digitization as an important factor to increase transparency, and developing the secondary market.

SABB has launched several products and services aimed at promoting the role of trade finance, in an effort to stimulate the economy and business development in order to achieve the objectives of Vision 2030.


KAUST’s conscious investor program region’s first

Updated 24 September 2020

KAUST’s conscious investor program region’s first

King Abdullah University of Science and Technology (KAUST) has partnered with the investment platform VentureSouq, startAD, the Abu Dhabi-based global accelerator anchored at New York University Abu Dhabi (NYUAD), and its partner Tamkeen, to launch the first Conscious Investor Fellowship in the GCC. The pan-regional fellowship is a six-week virtual program dedicated to enabling regional investors in the GCC to create sustainable change through impact investments. The program, which will take place from Oct. 7 to Nov. 25, comes as part of the upcoming annual Angel Rising Symposium, to be held virtually between Nov. 24-25, which provides education and conversations on the future of the angel investment sector and how it can fuel national and regional innovation.

The fellowship aims to empower the next generation of regional mission-driven investors who will fuel emerging ventures using technology for meaningful change, resulting in a measurable positive impact. Twenty-five investors from family offices, corporate and government entities will be welcomed as fellows of this inaugural cohort, where they will learn how to identify and invest into tech-enabled impact-driven startups.

The program will cover conscious investment strategies, startup diligence and valuations, impact measurement, portfolio management, and global sector trends in the impact space. Elective thematic masterclasses will also be offered, with a specific focus on health tech, educational tech, environmental tech, and agricultural tech. Participants will be able to apply their knowledge and invest in live deals through VentureSouq’s Conscious Collective Fund. The inaugural edition is held in collaboration with the Sharjah Entrepreneurship Center and Hub71.

Hattan Ahmed, head of the KAUST Entrepreneurship Center, said: “KAUST is driven by a mission to advance research and create new technologies that address our greatest global challenge in food, water, energy, and the environment. We are starting to see more deep tech startups emerging from the ecosystem, disrupting existing industries and creating new solutions to these challenges. The Conscious Investor Fellowship is a key step to advancing this ecosystem and educating regional investors about the potential of emerging technologies and their long-term value. For Saudi Arabia in particular, there is a unique opportunity to nurture this deep tech ecosystem for real economic transformation.”

Ramesh Jagannathan, research professor of engineering, vice provost for entrepreneurship at NYUAD, and managing director of startAD, said: “Conscious investment is a growing global force, accelerated by the ongoing impacts of the global pandemic. In the UAE, and specifically Abu Dhabi, we have a unique opportunity to engage with this global trend, given that the emirate has the highest net potential wealth globally.”