SABB seminars focus on Islamic banking
Riyadh, December 31, 2012
The Saudi British Bank (SABB) recently held three seminars in Riyadh, Jeddah and Al Khobar on the opportunities and challenges facing Islamic banking.
The seminars also discussed the promising future of Islamic banking in light of how it differs from conventional banking, particularly in Saudi Arabia.
The seminars, titled "Corporate Islamic Banking Solutions", were organised by the Commercial Banking Services Department and were well-attended by a large group of SABB’s prominent corporate customers.
Mohammed Al Faris, senior manager of Islamic Banking for corporate customers at SABB, offered an overview of the latest financing solutions offered such as the “Cash Line” product, the first of its kind in the Saudi market which allows corporate customers to obtain liquidity with a high degree of flexibility.
The product is the Shariah compliant alternative to conventional “over -draft” product, Al Faris said.
Also, Shariah compliant trade solutions and treasury products were introduced and discussed with attendees. In addition, the seminars showcased a wide range of hedging solutions against foreign exchange and financing rate fluctuations.
Thamer Jan, general manager of Commercial Banking at SABB said: “Such seminars give us the opportunity to meet our valued customers and acquaint them with the latest news and Shariah-compliant solutions offered by SABB within an integrated system. Our top priority is to meet the client needs, and facilitate the best customer experience possible.” – TradeArabia News Service
More Finance & Capital Market Stories
- Insurance House posts second year of profit
- ETF global assets hit record $2.44 trillion
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia
- Singapore’s UOB Bullion and Futures joins DGCX
- Infrastructure investment ‘key to growth’
- BKIC declares 30pc dividend
- StanChart profit falls 16pc in 2013
- Veteran Saudi banker to head AMF
- Dubai World prepays $284m to creditors
- EFG-Hermes sells Damas stake to Mannai
- Ultra rich number to grow 35pc in Mideast
- Saudi IPO market 'set for big year'
- RAK 'exploring' ceramics unit stake sale
- Bahrain Bourse wins key UK award
- Alba backs Euromoney forum
- URC bond rating upgraded to stable outlook
- GCC urged to set up onshore financial centres
- Consolidation push paying off for Bahrain banks
- Mubadala to focus more on US, Europe
- Six banks join plan for shared customer data register
- UAE economy grows 4pc in 2013
- Egypt foreign reserves up to $17.3bn
- StanChart opens second branch in Iraq
- Oil below $90 to hit GCC economies
- Payfort offers zero deposit scheme to SMEs