As Saudi Arabia retools its trade finance infrastructure, banks are adapting to new trade flows and rising digital expectations. Ali Mohammad Aburas, head of trade finance products at Al Rajhi Bank, offers his views on digital strategy, platform integration and the future of supply chain finance.
GTR: How would you describe the current trade finance landscape in Saudi Arabia and the broader Middle East, North Africa and Turkey (MENAT) region?
Aburas: The trade finance landscape across Saudi Arabia and the MENAT region is experiencing a pivotal shift, driven by economic diversification efforts and growing regional collaboration as well as empowering change under Saudi Vision 2030. There is an increasing emphasis on localising supply chains, fostering industrial development and enhancing cross-border trade within the region.
At the same time, corporates are demanding faster, more transparent and digitally enabled trade finance solutions. We are witnessing strong momentum in the digitisation of traditional instruments, particularly letters of guarantees (LGs), letters of credit (LCs) and supply chain finance products, as companies seek greater control, efficiency and visibility in managing their trade cycles.
GTR: Are you seeing a shift in trade flows or client behaviour that’s influencing your strategy?
Aburas: Definitely. Trade patterns are shifting, with intra-GCC trade and regional sourcing becoming more prominent due to national localisation efforts and supply chain resilience strategies. Clients are also becoming more digitally aware, expecting integrated, real-time services that align with their operational speed. A good example here is our recent service instant LG issuance through mobile business application.
This change in behaviour has influenced the banking sector to evolve its offerings. There is growing demand for mobile-first trade solutions, real-time issuance capabilities and enhanced supply chain finance models that support working capital needs across complex supplier ecosystems.
GTR: What kind of response have you seen from clients using the instant LG service?
Aburas: The market response has been extremely positive. Instant issuance capabilities significantly reduce processing times, eliminate manual touchpoints and provide clients with 24/7 access, allowing them to respond quickly to business requirements.
Clients particularly appreciate the operational agility this provides. Moreover, digital integrations with platforms for LG automation service allow direct advising of LGs to beneficiaries, without the need for physical documents. This seamless digital experience is increasingly becoming the benchmark expectation in the market.
GTR: What are the most common challenges your clients face when accessing trade finance?
Aburas: One of the key challenges remains the digital transformation of legally sensitive cross-border documents, such as bills of lading. Despite technological advancements, harmonisation of international regulations around these documents is still evolving.
However, where regulations permit, we see strong progress. Banks have developed digital onboarding, automated documentation and end-to-end platform integration. This allows clients to access trade services more efficiently, particularly in domestic or intra-regional transactions. Addressing these practical areas first is helping many corporates move confidently toward full digitisation.
GTR: How is digital innovation changing the way you work with corporate clients?
Aburas: Digital innovation has fundamentally changed the engagement model with corporates. Today, it’s about embedding trade finance into clients’ existing ecosystems through APIs, digital portals or ERP integrations, for example.
This allows for faster execution, customised workflows and real-time compliance checks. It also enhances data visibility and operational predictability. Ultimately, it’s a shift from offering standalone products to becoming an integrated financial partner in clients’ trade journeys.
GTR: Can you provide an example of how technology has simplified the client journey?
Aburas: One clear example is mobile-based guarantee issuance. Clients can initiate and complete the process entirely through a digital interface, reviewing terms with no papers required, and issuing the LG instantly. The solution is not only fast but fully automated, without any human intervention.
Another strong example is the integration with B2B digital platforms, enabling automated delivery of LGs directly to beneficiaries’ systems. This eliminates courier dependency and manual entry, which saves time and reduces errors. Clients managing high transaction volumes find this particularly beneficial.
GTR: Of course, not all businesses are fully digitised. How do you support those companies?
Aburas: That’s a crucial consideration. Many companies are still in the early stages of digital adoption, particularly smaller businesses or those in traditional sectors. We support these clients by identifying their highest-impact pain points and introducing digital solutions gradually.
For instance, in supply chain finance, we follow a phased implementation that starts with basic onboarding and expands into financial solutions and real-time visibility tools. Our goal is to enable a smooth transition, providing scalable solutions that clients can grow into over time.
GTR: Are there any other initiatives on the digital trade side that you’re particularly proud of?
Aburas: Absolutely. Saudi Arabia is making significant strides in government-led digitisation. The Etimad platform, led by the Ministry of Finance, is one of the most impactful. This enables digital interaction between banks and public sector entities, particularly for guarantee issuance on public projects.
Another milestone is the integration with the BwaTech platform. This began with Saudi Electricity Company and has expanded to other government and private entities. These initiatives are shaping a new standard for B2G and B2B trade finance, and we’re proud to have played a pioneering role in their adoption.
GTR: Are there specific technologies that you see as especially impactful?
Aburas: APIs stand out as the most immediately impactful. They’re enabling real-time issuance, seamless integration with client systems, and direct connectivity to government platforms. This improves speed, compliance and operational efficiency.
As for blockchain, we see strong future potential, particularly in areas like trade document validation and fraud prevention. While adoption is still at an early stage, we expect the technology to become more relevant as regulatory frameworks and legal acceptance evolve.
GTR: What about external partnerships? How do you view collaboration with fintechs and digital platforms?
Aburas: Fintech collaboration is essential to accelerating innovation in trade finance. Fintechs bring agility and specialised capabilities, such as automation, data analytics and workflow design that can complement the traditional banking infrastructure.
We look for partners who understand the regulatory and operational complexity of trade finance. Our work with BwaTech is a good example of how effective collaboration can deliver scalable, real-world solutions that benefit both corporate and government clients.
GTR: How do you ensure these innovations can scale and create long-term value?
Aburas: Sustainable innovation requires clear alignment between strategy, governance and delivery. Before launching any solution, we ensure cross-functional coordination, bringing together compliance, IT, operations and business teams.
Post-launch, we closely monitor performance through feedback, adoption rates and service quality. This iterative approach helps us refine offerings continuously. Innovation isn’t just about speed. It’s about building solutions that integrate into real business workflows and deliver measurable long-term value.
GTR: Looking ahead, what are your priorities for the next year or two?
Aburas: Scaling supply chain finance and receivables finance is a top priority, as these tools are becoming essential for corporate liquidity and supplier resilience. We also aim to deepen our integration with government platforms and large corporate clients through API-enabled services.
At the same time, we are focusing on inclusivity by supporting SMEs in accessing trade finance digitally. Making digital trade finance more accessible and adaptive across company sizes is vital to driving long-term growth in the region.
GTR: And finally, what advice would you give to companies in Saudi Arabia or the MENAT region that want to modernise their trade finance operations?
Aburas: I would encourage companies to take a strategic and phased approach to digital transformation. Start by identifying pain points within current processes, whether in LC issuance, guarantees or supplier financing, and explore digital solutions that can address them effectively.
Partner with financial institutions that offer more than just tools. Find banks that understand your industry, regulatory environment and operational needs. And most importantly, invest in building internal capabilities. Successful digital transformation requires commitment from both sides; it’s a shared journey between banks and businesses.
