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Gurumurthy Palani

Saudi Trade Finance Summit to focus on tech disruptions

RIYADH, October 21, 2019

The upcoming 7th Annual Saudi Trade Finance Summit in Riyadh, Saudi Arabia, will host experts who will discuss the disruptions caused by technology and digitization of trade finance.

This by-invite-only event will be held on November 13 and 14 under the theme “Enabling the Kingdom’s vision for a better future”.

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.

The Gulf International Bank (GIB), a leading pan-GCC universal bank which specializes in corporate and investment banking, will be participating as platinum sponsor in the event.

Gurumurthy Palani, global head of Transaction Banking at GIB, said: “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,” he added.

In conjunction with the conference, the Saudi Trade Finance Awards 2019 will take place on November 14 to honour the most influential corporates and financial institutions and will recognize their momentous innovation, success and vision.

Sidh NC, director at event organiser QnA International said: “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.” – TradeArabia News Service




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