SABB launches first Shariah-compliant Payables Finance Solution in Saudi Arabia

The Payables Finance Solution product is based on buyer risk where the seller bears the cost of discounting

  
Islamic finance. Image used for illustrative purpose.

Islamic finance. Image used for illustrative purpose.

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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.”

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