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ATM & BranchesSABB launches the Kingdom's first inventory-financing product
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March 2022
The Saudi British Bank (SABB) has launched the Kingdom's first Shariah-compliant off-balance-sheet inventory finance solution, designed to meet the needs of corporate clients seeking to manage their inventory in the most efficient manner possible.
The new product will allow customers to procure goods and lock in pricing without carrying stock on their balance sheet, thus bringing relief to their balance sheet. In addition, customers will be able to better manage their inventory and hedge against changes in commodity prices, avoid supply chain challenges impacted by the pandemic and the seasonal effects on supply and pricing.
"As a leading financial institution, we always strive to do our part in order to stimulate economic and commercial growth in the Kingdom, and to find possible financial solutions for this growth in line with the Kingdom's 2030 vision, "Majed Najm, Deputy Managing Director, Corporate and Institutional Banking," added.
"The launch of this product comes from the bank's strategy aimed at maintaining our leading position in the market, by continuing our successful approach to adopting innovative financial solutions that support our customers to achieve their commercial and investment aspirations."
It is worth noting that this product is an extension of the bank’s financial solutions for its corporate clients. SABB provides a full range of structured products for clients to optimize their balance sheets and their cash conversion cycles, as well as Shariah-compliant Supply Chain, Inventory Finance, and Receivables Finance.
SABB is considered one of the leading banks in financing and innovative products and has achieved priority in offering various products and services aimed at promoting digitization and innovation, in line with the Kingdom’s Vision 2030 initiatives.
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Saudi Awwal Bank, a listed joint stock company, incorporated in the Kingdom of Saudi Arabia, with paid in capital of SAR 20,547,945,220, commercial registration certificate 1010025779, unified number 7000018668, Mailing Address: P.O. Box 9084, Riyadh 11413. National Address: 7383 King Fahad Branch Rd, 2338 Al Yasmeen Dist., 13325 Riyadh, Kingdom of Saudi Arabia, Tel. +966 11 4050677, www.sab.com, licensed pursuant to the Council of Ministers Resolution No. 198 dated 06/02/1398H and Royal Decree No. M/4 dated 12/08/1398H, and regulated and supervised by the Saudi Central Bank.