Saudi Awwal Bank named ‘Best Bank for Small and Medium Enterprises in the Kingdom’

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Updated 27 September 2023
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Saudi Awwal Bank named ‘Best Bank for Small and Medium Enterprises in the Kingdom’

Saudi Awwal Bank has received the “Best Bank for Small and Medium Enterprises in the Kingdom” award, issued by the international magazine Euromoney. The award comes as a recognition of the bank’s steadfast commitment to empowering and supporting SMEs in Saudi Arabia.

The commitment of SAB to the SME sector is evident through its support for the Financial Sector Program of Saudi Vision 2030, specifically tailored to SMEs.

SAB has taken significant steps in digital transformation and the adoption of innovative digital banking services for SMEs. This includes launching various digital services with multiple features, such as user management without the need for direct communication with the bank and advanced security features. It has also introduced a digital banking account opening service for SMEs, which received the “Outstanding Initiative for Opening and Managing SME Accounts” award at the 2023 SME Banking Innovation Awards. The bank also provides innovative financing programs tailored to SME requirements.

Yasser Al-Barrak, chief corporate and institutional banking officer, said: “This award reflects our continuous efforts to provide the best services to SMEs in the Kingdom. Our investment in people, technology, and innovation not only demonstrates our commitment to growth and development but also our determination to meet the evolving needs of SMEs during this crucial period of their development. With each achievement, we always look forward to providing innovative banking solutions that meet the aspirations of small and medium-sized enterprises. As we continue to evolve to support them in expanding their business, our goal is not only to be the preferred partner but also to be the driving force behind their success.”

SAB supports many SMEs by collaborating with relevant entities such as Monsha’at, Small and Medium Enterprises Bank, Kafalah Program, the Real Estate Development Fund, the National Information Technology Development Program, the Tourism Development Fund, the Industrial Development Fund, and others.

The bank also collaborates with the London Stock Exchange to provide a range of training and awareness sessions as part of the SAB Academy program for SMEs, which are offered through virtual seminars, regardless of whether the SMEs are clients of the bank. The academy aims to empower these enterprises with financial planning and education as the key elements of success.

 


LuLu marks Founding Day with ‘Made in Saudi’ campaign

Updated 25 February 2026
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LuLu marks Founding Day with ‘Made in Saudi’ campaign

The Ministry of Industry and Mineral Resources honored LuLu Hypermarket in recognition of its pivotal role as the exclusive retail partner of the “Najoud Bikhairna 2026” initiative, commending its continued efforts in supporting and empowering national industries while showcasing the quality and competitiveness of locally manufactured products.

The initiative, led by the ministry in partnership with the Saudi Export Development Authority, represented by the Made in Saudi program, stands as a pioneering model of public-private sector collaboration in activating community-driven initiatives with sustainable impact. Through this program, more than 280,000 Saudi-made products were distributed to 10,000 families across various regions of the Kingdom during the holy month of Ramadan, reinforcing the presence of national products and strengthening the values of social solidarity among individuals and institutions alike.
The ministry’s recognition of LuLu Hypermarket coincided with the official launch of its Saudi Founding Day celebrations at the Dharat Laban branch in Riyadh, marked by the unveiling of a comprehensive promotional campaign dedicated to Saudi-made products. On this occasion, a wide range of special offers was introduced on local products, available across all LuLu Hypermarket branches throughout the Kingdom.
The inauguration ceremony was attended by Mohammed bin Dayel, general supervisor of the Made in Saudi program at the Saudi Export Development Authority, and Mohamed Haris, director of LuLu Saudi Arabia, alongside members of LuLu’s executive management team. The event featured a ribbon-cutting ceremony to officially open the specially designed Founding Day gateway.
Following the inauguration, guests toured several dedicated zones and exhibitions highlighting national products. The tour commenced at the grocery and “Made in Saudi” consumer goods sections, showcasing the diversity and quality of local brands. It also included the “Made in Saudi” dates pavilion, presenting a premium selection of the finest locally sourced dates in celebration of one of the Kingdom’s most iconic national symbols.
The visit continued to the fruits and vegetables section under the theme “From Our Land,” featuring an exceptional assortment of Saudi agricultural products, reflecting the richness and excellence of the local agricultural sector. Guests also explored the LuLu private label corner, which features products exclusively manufactured within the Kingdom for LuLu, reaffirming the company’s commitment to supporting local manufacturing.
The tour concluded with a presentation of “Made in Saudi” products within the chilled and frozen categories, underscoring the rapid growth and qualitative advancement of the Kingdom’s food manufacturing sector, and further reinforcing the strong market position and competitiveness of Saudi products.