The Banking Executive Magazine - May Issue

FAB and Alfanar FAB and Alfanar COLLABORATE FOR SUPPLY CHAIN FINANCE PROGRAMME First Abu Dhabi Bank (FAB) is ex- panding its value-added trade prod- uct and channel capabilities in the region with the launch of its Supply Chain Finance (SCF) programme in the Kingdom of Saudi Arabia. Alfanar has become the first local client in Kingdom to benefit from FAB’s on- ground SCF capabilities. FAB’s Supply Chain finance (SCF) and Receivable Finance (RF) solu- tions enable corporates to monetise their receivables at competitive rates and get immediate payment, without borrowing funds, thereby supporting corporates, especially in the current scenario of rising interest rates. Earlier in 2021, FAB launched its fully automated solution in Egypt and has now expanded its trade product suite in KSA by offering Supply Chain Finance and Receivables Finance so- lutions. Fahad Al Juwaidi, Country CEO of First Abu Dhabi Bank (FAB) in Saudi Arabia, stated, “At FAB, our mission is to continually expand our regional presence and offer cutting-edge solu- tions that drive growth for our clients. The launch of our Supply Chain Finance programme in KSA is a significant step forward in our re- gional expansion strategy. Our state- of-the-art FABeSCF platform and fully automated solutions will provide our clients with a seamless and inte- grated experience that strengthens connectivity across the entire supply chain.” FAB’s state-of-the-art FABeSCF plat- form simplifies the end-to-end process, allowing corporates to re- ceive funds in their bank account with just a few clicks. Anirudha Panse, Head of GTB Trade Finance Product Innovation at FAB said: “With the launch of Supply Chain and Receivables Finance in the King- dom, we are proud to be able to offer these value-added solutions to all our regional clients. Through our fully automated SCF solution, our clients will benefit from a seamless and in- tegrated solution.” Mohammad Khattab, Corp. Treasury Manager at Alfanar, said, “We are de- lighted to partner with FAB and launch this working capital solution that is aimed at improving cash flows across the entire supply chain. Using the automated online FABeSCF plat- form will make the internal process much more efficient and seamless for Alfanar.” As the leading regional transaction banking provider, FAB offers a seam- less and unified experience to clients working across all major markets in the GCC region. the BANKING EXECUTIVE 30 ISSUE 173 MAY 2023