SABB named market leader in trade finance in Saudi Arabia by Euromoney

Short Url
Updated 22 March 2023
Follow

SABB named market leader in trade finance in Saudi Arabia by Euromoney

The Saudi British Bank has been recognized by Euromoney as the “Best Trade Finance Service Provider” and “Market Leader” in Saudi Arabia for 2023. This is the seventh successive year that SABB has been awarded as the market leader, widely recognizing SABB as the preeminent trade finance bank in the Kingdom.

The awards are based on a survey by Euromoney, where Saudi corporates have recognized SABB as the market leader within the trade finance space. The survey takes into consideration corporates’ view on their banks’ ability in providing trade finance products, solutions, quality of services and market share.

In 2022, SABB continued its focus on client experience, digitization, and the development of trade opportunities for clients, offering a range of digital initiatives, including a newly launched digital trade solutions package aimed at enhancing letter of credit and guarantee procedures for enterprises’ international business operations by cooperating with blockchain-based digital platform Contour and local fintech Bwatech. SABB is also the first bank in the Kingdom to complete an international trade transaction via blockchain technology, reducing risk and paper in the industry and ultimately increasing the velocity of trade and liquidity in the market

Commenting on the awards, Yasser Albarrak, chief corporate and institutional banking officer, said: “We are delighted to be winning these awards, which highlight our leading position and excellence in providing innovative solutions that meet the growing and diverse needs of our customers in a market that is witnessing rapid growth at various levels. These awards are based on a customer satisfaction survey, which is a testament to our successful approach in providing products and services in trade finance and proving that it is widely accepted by customers.”


ITC Infotech accelerates Vision 2030 through digital hub in Riyadh

Updated 17 January 2026
Follow

ITC Infotech accelerates Vision 2030 through digital hub in Riyadh

ITC Infotech’s commitment to delivering real digital change in the Middle East is reinforced by strengthening collaboration and working more closely with customers on the ground. The establishment of its Digital and AI Engineering Hub in Riyadh brings superior digital engineering and AI skills closer to businesses, allowing for speedier collaboration, localized innovation, and solutions targeted to regional needs. This strategic expansion aligns with Saudi Arabia’s Vision 2030 and underscores ITC Infotech’s long-standing emphasis on partnership-led growth and customer-centric innovation.

The hub was officially inaugurated on Jan. 15 by Sanjiv Puri, chairman and managing director of ITC Ltd. This facility is designed to help enterprises leverage advanced technologies and convert digital ambitions into measurable business outcomes. This move aligns closely with Saudi Arabia’s efforts to build a knowledge-driven economy powered by innovation and technology.

Saudi Arabia’s digital leap

Vision 2030 is more than just economic diversification; it is a clear blueprint for creating a technologically advanced society. This vision is centered on the integration of artificial intelligence and digital engineering, which are transforming industries and enabling long-term, sustainable growth. The strategic importance of AI is clear, with the Saudi Data and AI Authority estimating that it may add $135 billion to the Kingdom’s GDP by 2030. This commitment is supported by significant investments, including $14.9 billion announced at LEAP 2025 to advance digital infrastructure, talent, and next-generation technologies, as well as historic projects like the $2.7 billion Hexagon Data Center in Riyadh. Together, these efforts are laying the foundation for a secure, resilient, and future-ready digital ecosystem that can support AI adoption, data-driven governance, and smart city development at scale.

What the hub offers

ITC Infotech’s Riyadh hub is designed to fuel this momentum by focusing on three core areas:

  • AI-powered platforms: Delivering predictive analytics, intelligent automation, and data-driven insights to help businesses transition from reactive operations to proactive strategies.
  • Digital engineering solutions: Leveraging Industry 4.0-driven smart manufacturing capabilities, integrating AI-led modeling, connected systems, and advanced analytics to optimize production performance, improve asset utilization, and proactively reduce operational and quality risks across the engineering lifecycle.
  • Cloud-native architectures: Building agile, secure, and resilient ecosystems that enable faster innovation and seamless integration across enterprise systems.

These capabilities are designed to enable organizations to innovate, scale, and compete in a rapidly evolving digital economy. Beyond technology, the hub is fundamentally anchored in building a team of the region, from the region, for the region and for global impact. Through structured skill-building programs, deep partnerships with academia, systematic knowledge transfer, and immersive, hands-on delivery models, the hub is creating a future-ready Saudi workforce fully aligned with Vision 2030 and capable of serving both national and international priorities.

Driving enterprise transformation 

The ITC Infotech hub aims to enable transformation rather than simply deploy technology. By driving AI adoption, accelerating digital engineering, and building cloud-native ecosystems, ITC Infotech seeks to help businesses:

  • develop new business models to meet evolving market needs.
  • improve operational efficiency through predictive insights and automation.
  • support sustainability goals by optimizing resources and reducing risks.
  • build a skilled local workforce capable of leading future innovations.

These outcomes support enterprises as they transition to more resilient, data-driven, and digitally mature operating models.

The road ahead

ITC Infotech is a wholly owned subsidiary of ITC Limited, one of India’s largest conglomerates, with over 25 years of experience as a trusted technology services partner to enterprises globally. The company focuses on next-generation enterprise transformation, delivering services across infrastructure and application modernization, cloud, cybersecurity, digital engineering, and AI-led innovation.

As Saudi Arabia continues its digital journey, ITC Infotech’s combination of global expertise, strong local presence, and collaborative delivery model positions it as a long-term partner in advancing Vision 2030. ITC Infotech’s hub in Riyadh reflects this commitment, bringing advanced capabilities closer to customers, investing in local talent, and enabling enterprises to adopt AI at scale as they compete in an increasingly digital world.