Over the last couple of decades, the Saudi trade finance industry has envisioned significant developments with the introduction of innovative strategies at par with the Saudi Vision 2030. As per the Saudi Macroeconomic report submitted by Jadwa Investment, the Kingdom of Saudi Arabia is foreseen to grow by 2 percent in the year 2019 where there is going to be a rise of 20 percent in the overall capital expenditure.

In line with the ongoing implementation of the diverse economic and social reforms, The Gulf International Bank, a leading pan-GCC universal bank who specialize in corporate and investment banking will be participating as platinum sponsors at the prestigious 7th Annual Saudi Trade Finance Summit. This by-invite-only event will be held on the 13th and 14th November at the capital city – Riyadh and will be focusing on the theme “Enabling the Kingdom’s vision for a better future”.

The platinum sponsors have the opportunity to share their insights, expertise and vision in the overall business culture. Commenting on their participation, Gurumurthy Palani, Global Head of Transaction Banking, says, “The development of banks and equity market in the Kingdom of Saudi Arabia has been largely supported by the substantial economic activity and booming Islamic finance sector reforms. With respect to the growth of the banking industry, the region appears to be in a good position with respect to technological breakthroughs and digitization of trade finance. The summit gives us a great opportunity to network with clients to facilitate the development of a pragmatic strategy and approach to achieve the region's vision of economic diversification. Also with the Saudi Vision 2030 fast approaching, it would be pivotal to establish relationships with corporates and government authorities through this conference.”

In conjunction with this prestigious conference, the Saudi Trade Finance Awards 2019 taking place on the 14th November will honor the most influential corporates and financial institutions and will recognize their momentous innovation, success and vision. Gearing up for the event, Sidh NC, Director, QnA International comments “Amongst the GCC countries, Saudi Arabia has made tremendous progress on financial inclusions and digitization. The upcoming 7th Annual Saudi Trade Finance summit will further empower to bridge the gaps between corporates and financial institutions and we are proud to be associated with the Gulf International Bank. Throughout this event, numerous informative discussions will take place with an opportunity for unparalleled networking emphasizing on the diversifying economy of the Kingdom.”

Source: Yardstick Public Relations

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