Riyad Bank addresses latest innovations in Trade Finance at the 6th Annual Saudi Summit

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Riyad Bank, established in 1957 and now one of the largest financial institutions in the Kingdom of Saudi Arabia and the Middle East, is the Platinum sponsor of the 6th Annual Saudi Trade Finance Summit, to be held from 12th– 13th December 2018 at Al Faisaliah Hotel, Riyadh. The summit brings together parties interested in reinventing trade finance functions and helping to enhance the Kingdom’s economy. Riyad Bank is at the forefront of a comprehensive programme of sustainable development initiatives which fully align with the summit vision of enhancing the national economy.

Saudi Trade Finance Summit is the only event in the Kingdom that provides the right  forum for networking and is an added opportunity for Riyad Bank to showcase its expertise and its insights into the trade financing requirements of Saudi Corporates. This certainly adds an edge to  contributing to the growth of the Business & the Saudi Economy, which aligns with the Saudi Vision 2030. The oil-rich kingdom is putting down major capital in its efforts to diversify the economy, investing money in adopting new technology. Blockchain Technology, Electronic Bills of Lading, Artificial Intelligence, Optical Character Recognition and the launch of an online marketplace for buying & selling  trade assets are some of the latest innovations when it comes to digitizing trade finance according to experts at Riyad Bank.

Commenting on the 6th Annual Saudi Trade Finance Summit, Mr. Mohammed Abo Al-Naja, Executive Vice President of Corporate Banking Division, Riyad Bank, said, The digitization of international trade and trade financing is now well underway. This certainly provides an opportunity to streamline processes, reduce transaction time and cost, and mitigate fraud riskThe Saudi Trade Finance Summit provides an excellent opportunity to all delegates for networking and to have a constructive discussion with leading corporates, financial institutions, government authorities and technology firms, on various aspects of Trade Finance. It gives representatives, a fantastic opportunity to keep themselves well-informed with the latest developments in Trade Finance; both internationally as well as in the region and also get to hear from the experts on relevant topics in Trade Finance.

The 6th Annual Saudi Trade Finance Summit is considered the most prestigious gathering of trade finance professionals and financial leaders in the Kingdom of Saudi Arabia. Speakers at this summit will focus on the challenges faced by firms in the relevant sectors and offer ideas for solutions that  contribute towards fulfilling the country’s 2030 vision.

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