The Banking Executive Magazine - Septmber Issue 2021

SABB SABB: Leading Bank in Financing Sustainable Projects in the Middle East The Saudi British Bank (SABB) has been named “The Leading Bank in Financing Sustainable Projects in the Middle East” for the year 2021 by Global Finance as part of its annual Excellence Awards, which honor the best financial institutions worldwide. SABB was chosen for this award based on a set of international stan- dards of excellence in several areas, including sustainable finance, com- munity support, emerging market de- velopment, and infrastructure. The award acknowledges the Bank's ef- forts and contributions to sustainabil- ity of environmental, social and institutional governance in the King- dom and the region as a whole. The newly introduced awards pro- gram recognizes global and regional leadership in Sustainable Finance, funding for initiatives designed to mitigate the negative impacts of cli- mate change and help build a more sustainable future for humanity. Majed Najm, Deputy Managing Di- rector of Corporate and Institutional Banking at SABB commented on winning the award: “We are de- lighted to win this prestigious award, which is a true testament to the piv- otal role that the principles of social and environmental sustainability play in the strategy of the bank”. “We look forward to contributing more effectively to achieving sustain- able development goals and building a promising future in line with the Kingdom’s Vision 2030” Najm added and stressed that SABB is fully pre- pared to support sustainable devel- opment initiatives and actively con- tribute to the transformation towards supporting and encouraging green initiatives and environmentally friendly projects. SABB puts sustainability, social, en- vironmental and institutional gover- nance at the center of its strategy for the next five years, and has recently demonstrated its commitment to ESG by acting as one of the Mandated Lead Arrangers on the SR14Bn fi- nancing raised to fund the Red Sea project, the Kingdom’s flagship for luxury tourism development, as the first green credit facility denominated in Saudi Riyals, setting new standards in the field of green loans. the BANKING EXECUTIVE 36 ISSUE 153 SEPTEMBER 2021