SAB’s new instant account opening service empowers SMEs

Updated 3 min 15 sec ago

November 13, 2025 00:56

Saudi Awwal Bank, one of the leading banks in the Kingdom, has launched a new instant account opening service for sole proprietorships.

The launch of the new digital solution took place during Biban 2025, organized by the Small and Medium Enterprises General Authority, known as Monsha’at, from Nov. 5 to 8 at the Riyadh Front Exhibition and Conference Center under the theme “A Global Destination for Opportunities.”

The new solution for small and medium enterprises underscores SAB’s commitment to empowering SMEs in the Kingdom through innovative, secure digital banking services that simplify account opening. It supports the bank’s ongoing efforts to advance Vision 2030 by helping businesses grow and contribute to economic diversification.

The service enables business owners to open accounts instantly through a fully digital platform that completes every step online. It offers a faster, more convenient banking experience while expanding access for the SME sector.

Yasser Al-barrak, chief corporate and institutional banking officer at SAB, said: “At SAB, we continue to invest in technology that transforms the way our customers do business. The instant account opening platform marks a major step forward, allowing entrepreneurs to start their banking relationship within minutes through a secure digital process.”

SAB’s Corporate Account Opening Platform has received the “Global SME Banking Innovation Award” for three consecutive years from The Digital Banker publication. The platform now enables businesses to open accounts within minutes and instantly access banking services through the SAB iCorp app, including payroll management and other key features.

By launching this new digital service, SAB strengthens its role in supporting entrepreneurship and driving financial innovation across Saudi Arabia. The bank continues to invest in digital solutions that empower business owners and contribute to a thriving, sustainable SME sector.

SAB partners with WEConnect to empower female entrepreneurs

Updated 1 min 6 sec ago

November 13, 2025 00:54

SAB partners with WEConnect to empower female entrepreneurs

Updated 1 min 6 sec ago

November 13, 2025 00:54

Saudi Awwal Bank, one of the leading banks in the Kingdom, has announced a strategic partnership with WEConnect International, a global nonprofit that connects women-owned businesses to qualified buyers around the world, to empower female entrepreneurs and advance the goals of Vision 2030.
The collaboration is designed to enhance women’s economic participation in Saudi Arabia by fostering an inclusive environment that drives innovation and sustainable growth. As part of this initiative, SAB and WEConnect International will provide businesswomen with access to resources, mentorship, and opportunities that support their long-term success.
The partnership was announced during an event organized by SAB, in collaboration with WeConnect International, and hosted at SAB’s flagship Innovation Center. The gathering featured rich discussions and networking opportunities, highlighting inspiring success stories from female entrepreneurs across the Kingdom.
Commenting on the initiative, Lama Ghazzaoui, chief financial officer at SAB, said: “Empowering women in business is not just a matter of equity; it is a strategic imperative for our economy. Through this partnership, we aim to create pathways for women entrepreneurs to thrive, thereby contributing to the Kingdom’s vision of a vibrant and diverse economy.”
This partnership builds on SAB’s ongoing commitment to advancing female entrepreneurship. Most recently, SAB has been collaborating with Visa and Monsha’at on the She’s Next program. This program offers grants, training, and mentorship to women and is one element of the bank’s broader work to build a more dynamic and inclusive entrepreneurial ecosystem.

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