Business & Money | Friday 28 August, 2015 3:57 am |

 Riyad Bank, Banque Saudi Fransi and Saudi Hollandi Bank, three of the Middle East’s leading banks, have confirmed their presence as Platinum Sponsors of the prestigious 3rd Annual Saudi Trade Finance Summit 2015 – the largest and most influential gathering of trade finance decision makers and senior financial professionals in the kingdom. This event will be held on November 10 and 11, 2015 at the Al Faisaliah Hotel in Riyadh. 

Speaking on the significance of their sponsorship, Mohammed Abo Al-Naja, Executive Vice President, Corporate Banking Services at Riyad Bank says: “We wish to create more awareness amongst the Saudi business community on the latest developments in trade finance and how banks can help them in their business by offering various trade finance solutions and also understand from the CEOs/CFOs on what are their expectations and business requirements from banks.”

Frank Hamer, General Manager, Transaction Banking Group at Saudi Hollandi Bank adds: “This is a good opportunity to meet and address the right people from organisations related to the trade finance business within Saudi Arabia and other countries in the GCC. This summit will also give us the chance to showcase our ability in catering to the future demands of our customers in terms of modern technology, versatile products and market expertise. We consider it our prime responsibility to promote the kingdom amongst our trading partners to further enhance its economic development and fulfill its aspiration to be one of the world’s trade hubs.”

Sidh N C, Director Operations at QnA International has emphasised the significance of trade finance instruments in boosting the Saudi Arabian economy.

“Traditional trade financing has seen exponential growth in recent years and this event reflects that upbeat enthusiasm about the sector. The 3rd Annual Saudi Trade Finance Summit 2015 will provide an excellent platform for organisations to capture new business opportunities, discuss possible solutions to their various concerns and promote profitability and cost-effectiveness by adopting better technologies and processes in their operations. There is no other event in the Kingdom that taps the latent opulence of Trade Finance in the Kingdom, and we are proud to bring a transformation in Saudi Arabia through this powerful initiative.” he says. 

The third instalment is set to uphold its legacy based on the success of the past summits, making the annual event the most sought-after gathering of corporate and financial institutions in one venue. What sets it apart is its exclusivity, giving invited guests unique access to a wealth of information and top-level insights that only an event of this calibre could provide. 

 

“All in all we consider this as the most prestigious annual event in Saudi Arabia, which brings together the main stakeholders involved in revolutionising the trade finance industry, government and regulatory authorities, financial institutions, insurance providers, export credit agencies, risk assessment firms, technology providers, legal consultants, as well as company directors, CEOs, heads of finance, treasurers and the small and medium business owners in the kingdom,” adds Hamer. 

 

To further add, Mohammed Abo Al-Naja says, “The Summit gives a common platform to Banks and Corporate for sharing their views.  This further facilitates understanding the new requirements of the customers, thereby enabling the Banks to introduce suitable Trade Solutions in order to meet the expectations of the customers. Banks get an appropriate platform to share with the audience the updates and innovations in Trade Finance from the Banker’s perspective.”