Saudi Awwal Bank Launches First Off-Balance-Sheet Digital Islamic Supply Chain Finance Transaction in KSA


Saudi Awwal Bank (SAB), one of the leading banks in the Kingdom of Saudi Arabia, and United Pharmaceuticals, one of the leading retail pharmacy chains in the Kingdom, have successfully executed the first off-balance-sheet end-to-end digital Islamic supply chain finance transaction in the Kingdom. A significant milestone in the realm of Islamic finance, this ground breaking achievement enables automated discounted early payments for ten of United Pharmaceuticals’ strategic suppliers.

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