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.


Burj Al-Arab named No. 1 city hotel in MENA

Updated 13 July 2020

Burj Al-Arab named No. 1 city hotel in MENA

Burj Al-Arab Jumeirah, the crown jewel in hospitality leader Jumeirah Group’s portfolio and global icon of luxury, has been named the No. 1 city hotel in the Middle East and North Africa (MENA) by Travel + Leisure at its World’s Best Awards.

Every year, Travel + Leisure — one of the largest travel media brands in the US — provides its 6 million plus readers the chance to have their say in choosing the most outstanding destinations, hotels, resorts, spas, airlines, cruise lines, tour operators and rental car agencies around the world as part of its annual survey. This year marks 25 years of celebrating the best in travel, with Burj Al-Arab recognized on the “World’s Best” list for its hospitality excellence, intuitive luxury service and iconic appeal.

Currently celebrating two decades of operations, the hotel is renowned across the globe for its boundary-pushing architecture and innovative design, with the team going above and beyond to create bespoke experiences for guests. It is also known for culinary excellence with a collection of restaurants led by renowned chefs and overseen by Michael Ellis, chief culinary officer and former managing director of the Michelin Guide.

José Silva, chief executive officer of Jumeirah Group, said: “Burj Al-Arab represents the very pinnacle of luxury, known world-over for its elevated design, service beyond expectations and unmatched physical spaces. International recognition such as this not only reaffirms the hotel’s iconic standing on the world map but also serves as a thank you to all those who go above and beyond, every day, to make our guests’ stay truly remarkable.”

Jumeirah Group, a member of Dubai Holding and a global luxury hotel company, operates a 6,500+-key portfolio of 26 properties across the Middle East (including the flagship Burj Al-Arab Jumeirah) Europe and Asia, with more properties currently under construction around the globe.

Prioritizing the health and safety of its guests and colleagues, Jumeirah Group has implemented a series of protective measures across all of its hotels, while strictly adhering to each market’s respective government directives. Four of its hotels in Dubai were recently awarded the Bureau Veritas SafeGuard label, with Jumeirah Al-Naseem being the first hotel in the world to receive the prestigious certification. The group is working closely with Bureau Veritas to certify its wider portfolio.

This year’s World’s Best Awards survey closed on March 2, just before widespread stay-at-home orders were implemented as a result of COVID-19. The results, therefore, reflect Travel + Leisure’s readers’ experiences before the pandemic.