The Banking Executive Magazine - May 2026 Issue

Saudi Awwal Bank Saudi Awwal Bank SIGNS AGREEMENT WITH ENVIRONMENT FUND TO PROVIDE CREDIT FACILITIES Saudi Awwal Bank (SAB), one of the leading banks in the Kingdom of Saudi Arabia, announced the signing of an agreement with the Environ- ment Fund (EF), under the patronage of Eng. Abdulrahman Abdulmohsen AlFadley, Minister of Environment, Water & Agriculture. The agreement was signed by Munir bin Fahd Al-Sahli, Board Member and Acting CEO of the Environment Fund, and Tony Cripps, Managing Director and CEO of SAB, to provide credit facilities to beneficiaries of the incentives and grants program. The program aims to offer financing solutions to small and medium-sized enterprises (SMEs), mid-sized com- panies, and large corporates operat- ing in environmental projects. It enables beneficiaries to access a range of financing products, includ- ing term loans, project finance, trade finance, and other banking facilities, to support initiatives that promote sustainability across the Kingdom. Key focus areas include waste man- agement, environmental compli- ance, combating desertification, veg- etation development, wildlife con- servation, and other projects that promote sustainable development. By targeting these sectors, the pro- gram reinforces SAB’s commitment to driving Saudi Arabia’s environ- mental objectives while empowering businesses to adopt environmentally responsible practices in line with Vi- sion 2030. Yasser Al-barrak, Chief Corporate and Institutional Banking Officer at SAB, highlighted the bank’s commit- ment to environmental transforma- tion and sustainability through its partnership with the Environment Fund. He said: “We are proud to partner with the Environment Fund on this landmark initiative, which will em- power companies to adopt sustain- able solutions and contribute to Saudi Arabia’s environmental trans- formation. By combining SAB’s fi- nancial expertise with EF’s strategic mandate, we are enabling greater ac- cess to capital for green projects and affirming SAB’s role as a key enabler of the Kingdom’s Vision 2030 sus- tainability goals.” Munir bin Fahd Al-Sahli, Board Member and Acting CEO of the En- vironment Fund, stated: “The agree- ment is designed to advance the EF's strategic ambitions by fostering a more attractive investment environ- ment for the environmental sector and encouraging greater private sec- tor participation. The partnership will also support the delivery of tailored financing solutions, strengthen strate- gic collaboration, and enhance part- nerships to drive sector growth and reinforce its long-term financial sus- tainability.” The current agreement with EF un- derscores SAB’s broader sustainabil- ity strategy, which focuses on collaborating with government- backed initiatives that promote envi- ronmental protection, economic diversification, and responsible growth. It also supports the Fund’s mission to preserve and enhance Saudi Arabia’s natural resources while advancing sustainable invest- ments across sectors. ISSUE 209 MAY 2026 the BANKING EXECUTIVE 35