Riyad Bank, Banque Saudi Fransi and Saudi Hollandi Bank, three of the Middle East’s leading banks, have been announced as the Platinum Sponsors of the 3rd Annual Saudi Trade Finance Summit 2015, a leading trade finance event to be held in November, in Riyadh.

The event will be held from November 10 to 11, at the Al Faisaliah Hotel.

The Saudi Trade Finance Summit is an initiative designed to bring together the key stakeholders involved in redefining the trade finance function, from government and regulatory authorities capable of bringing about the essential transformation, to crucial financial institutions like banks, insurance companies, ECA's, risk assessment firms to legal and technological consultants and most importantly the chief financial officers, finance directors, treasury heads and heads of finance of the biggest corporate, conglomerates, holding companies and small and medium-sized enterprises (SME's) in Saudi Arabia, said the statement.

The event will bring together senior level finance professionals from across the GCC and beyond to discuss the top challenges and derive solutions for the most crucial issues today, it said.

The "by invitation only" exclusive summit aims at giving every individual an opportunity to remain up-to-date with the latest breakthroughs and market trends, and as well as to develop a pragmatic approach to achieve expectations for future expansion, challenges, growth, it added.

Speaking on the sponsorship, Mohammed Abo Al-Naja, executive vice president, Corporate Banking Services at Riyad Bank, said: “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.”

“We will be offering various trade finance solutions and also discuss with CEOs/CFOs their expectations and business requirements from banks such as us,” he added.

Frank Hamer, general manager, Transaction Banking Group at Saudi Hollandi Bank, said: “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.”

“It 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 fulfil its aspiration to be one of the world’s trade hubs.”

Sidh N C, director operations at QnA International, said: “Traditional trade financing has seen exponential growth in recent years and this event reflects that upbeat enthusiasm about the sector.”

“The summit 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,” he said.

“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,” concluded Hamer. – TradeArabia News Service