Gulf International Bank Saudi Arabia (GIB Saudi Arabia), the first foreign domiciled bank to establish a local commercial bank in the Kingdom, has received the Best Islamic Receivable Finance Award 2021 at the Saudi Trade Finance Awards.
The award reflects the GIB Saudi Arabia’s exceptional performance over the past year, in particular for its market-leading development in trade finance products and payment solutions for corporate customers.
Abdulaziz Al-Helaissi Group CEO – GIB
“We’re delighted that GIB Saudi Arabia continues to be recognized for its growing leadership in the provision of bespoke Structured Trade solutions including Supply Chain & Islamic Receivables financing in the Kingdom. We are particularly pleased with our pioneering digital offerings in these areas and the automation of financing solutions to further support our clients enabling them to transact in a more seamless, cost-efficient and effective way.”
The Saudi Trade Finance Awards, which is in its ninth year, lauds key industry innovators and their contributions towards the development of the sector and further progress in meeting the country’s broader financial growth strategies as outlined in the Saudi Vision 2030.
The awards are held each year in conjunction with the Annual Saudi Trade Finance Summit. The two-day event, held in Riyadh, addressed a number of pandemic-induced challenges and opportunities for Saudi Arabia’s trade finance sector, including optimal liquidity management for Saudi exporters, suppliers and small and medium-sized enterprises (SME), supply chain financing, accelerated adoption of digitization and technological innovations for optimizing trade finance, managing inherent risks as well as overall sustainable development of the sector.
