PHOTO
RIYADH: The Saudi British Bank (SABB), an affiliate of UK-listed HSBC Group, has launched a Shariah-compliant supply chain finance product to support small and medium-sized firms.
The Payables Finance Solution product is based on buyer risk where the seller bears the cost of discounting, the lender said in a statement.
It added: “This product gives suppliers access to funding based on the credit standing of their buyers, and without using their own credit lines.”
Copyright: Arab News © 2021 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
