The Fifth Annual Saudi Trade Finance Summit, organized by QnA International, will take place at the Mövenpick Hotel Al Khobar on November 14-15. Riyad Bank will be among the Platinum Sponsors once again this year.
The most influential event in the trade and finance sector in the Kingdom will now focus on filling the gap between the CFOs and financial institutions. It will bring together representatives of government authorities, heads of agencies, professionals in banking and finance, advisors, and consultants to share best practices and discuss the future. For the first time since its inception, the forum will take place at Saudi’s Export Hub in Al Khobar.
The participants will have two days to discuss financial regulations, strategies, and trends, shaping the country’s economy.
In line with the Saudi Vision 2030, the consultancy firm McKinsey estimated Saudi Arabia would need US$4 trillion in investments in the non-oil sector during the next 12 years to ensure the future hydrocarbons. If executed successfully, the strategy would have a positive effect on the GDP by doubling it and creating six million new jobs.
There will also be panel discussions on risk mitigation, Islamic banking, IFRS adoption, VAT, and SME development. In addition to that, the financial institutions and banks will have the opportunity to showcase their most innovative products and services, and gain valuable feedback.
Mohammed Abo Al-Naja, Executive Vice President, Corporate Banking Services, Riyad Bank, commented that the Kingdom has always excelled in the adoption of new technologies. In his view, to accelerate the trade and finance digitization across the country, both banks and businesses need to implement some innovative solutions and address a bunch of regulatory and legal requirements. The upcoming forum, added he, would be an excellent opportunity to prepare the corporate leaders, top bankers and decision makers for the future of trade finance in the Kingdom.