{"id":70993,"date":"2023-05-24T00:00:00","date_gmt":"2023-05-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/05\/24\/fab-launches-supply-chain-finance-program-in-ksa\/"},"modified":"2023-05-24T00:00:00","modified_gmt":"2023-05-24T00:00:00","slug":"fab-launches-supply-chain-finance-program-in-ksa","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/05\/24\/fab-launches-supply-chain-finance-program-in-ksa\/","title":{"rendered":"FAB launches supply chain finance program in KSA"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">First Abu Dhabi Bank (<\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.fabmisr.com.eg\/en\/personal-banking\" style=\"\">FAB<\/a><\/span><span style=\"font-weight:700\">) introduced its supply chain finance (SCF) program in <\/span><span style=\"font-weight:700\">Saudi Arabia to companies to boost regional trade finance<\/span><span style=\"\">, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/en\/details\/1395303161212\" style=\"\">Wam<\/a><\/span><span style=\"\"> reports. The program allows companies to monetize their receivables at competitive rates and get instant payments, without needing to borrow funds in a heightened interest rate environment, Wam said. <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/alfanar\/\" style=\"\">Alfanar Construction<\/a><\/span><span style=\"font-weight:400;\"> already signed an agreement with FAB under the program, the news agency added.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">SOUND SMART- <\/span><span>Receivables finance is a trade finance method businesses can use to receive funds that match the amounts owed to it by its customers in outstanding invoices. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">There\u2019s a lot we don\u2019t know: <\/span><span style=\"font-weight:400;\">It\u2019s not clear what industries the program is targeting or what the size of the financing agreements could be, though Alfanar\u2019s treasury manager said the program helps improve \u201ccashflows across the entire supply chain.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What they said: <\/span><span style=\"font-weight:400;\">\u201cThe launch of our supply chain finance program in KSA is a significant step forward in our regional expansion strategy,\u201d Country CEO of First Abu Dhabi Bank (FAB) in Saudi Arabia Fahad Al Juwaidi said. \u201cOur state-of-the-art FABeSCF platform and fully automated solutions will provide our clients with a seamless and integrated experience that strengthens connectivity across the entire supply chain,\u201d he added. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The program targets<\/p>\n","protected":false},"author":1,"featured_media":70994,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[877],"tags":[17,594,591,31],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-70993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-enterprise-logistics","tag-finance","tag-financing","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"56f65582-a410-4b18-b8c7-8a1f2fdcefb3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1299.jpg","photo_position":"above","homepage_title":"","full_issue_title":"FAB launches supply chain finance program in KSA","related_issue":[70986],"teaser":"The program targets","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.5fbd1d23-906f-4a30-8624-21c28e126a9d.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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