GIB Saudi Arabia wins Best Islamic Receivable Finance

Gulf International Bank Saudi Arabia (GIB Saudi Arabia or the Bank) today announced that it won the Best Islamic Receivable Finance Award 2021 at the Saudi Trade Finance Awards. This reflects the Bank’s outstanding performance over the past year and in particular for its market leading development in Trade Finance products and payment solutions for corporate customers.

In its ninth year, the awards celebrate 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.

Group CEO of GIB, Abdulaziz Al-Helaissi, said, “We’re delighted that GIB Saudi Arabia continues to be recognised 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 awards are held each year in conjunction with the Annual Saudi Trade Finance Summit. This year’s 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 SMEs, supply chain financing, accelerated adoption of digitisation and technological innovations for optimising trade finance, managing inherent risks as well as overall sustainable development of the sector.

About Gulf International Bank (GIB)

Gulf International Bank B.S.C. is a pan GCC universal bank established in 1975 and regulated by the Central Bank of Bahrain. GIB’s services are delivered across the GCC and international markets through its subsidiaries: GIB Saudi Arabia, GIB (UK) Ltd. Additionally, the Bank has branches in the UAE and USA.

GIB is owned by the governments of the Gulf Cooperation Council countries, with Saudi Arabia’s Public Investment Fund being the primary shareholder.