Funding provisions, supply chains and SMEs

Events / 12-10-21 / Share Link

One of the key factors in any successful drive for developing the Kingdom as a dynamic trade hub and reduce the country’s dependence on oil is the establishment of a thriving environment for companies of all sizes and SMEs in particular, with various public initiatives launched to incentivise domestic consumption, non-oil exports and foreign investment, seeking to create a culture of entrepreneurship.

Maninder Bhandari (Director, Derby Group), Zubair Akbar (Director, Trade Finance Sales, Supply Chain Finance & Corporate Banking, Saudi Arabia, BNP Paribas), Rana Zumai (Consultant, Small & Medium Enterprises General Authority (Monshaat), Mohammed AlOmayyer (Co-Founder & CEO, Ta3meed) and Betül Kurtulus (Regional Director, Central, Eastern & South-Eastern Europe & the Middle East, FCI) assessed the progress made in these endeavours, from the importance of setting standards for financing, greater demand for and use of SME-centric products including factoring, invoice discounting and Islamic trade financing, as well as the pending launch of a digital-only bank for SMEs.

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