Saudi Awwal Bank (SAB) has recently joined forces with MasterCard, unveiling an innovative SME Business credit card tailored to the Kingdom’s local businesses, SMEs, and fintech companies. This strategic partnership marks a significant milestone in the efforts to fortify and empower the local business landscape.
The newly introduced SME Business credit card is uniquely crafted to facilitate the growth and seamless management of businesses, offering quick and secure access to a diverse range of benefits. The card provides enhanced visibility on transactions, accelerates payment processes for suppliers, and optimizes cash flow management, effectively addressing the crucial financial needs of the SME sector.
Highlighting the impact of this collaboration on the local economy, Mr. Yasser Al-Barrak, Chief Corporate and Institutional Banking Officer at SAB, emphasized the bank’s unwavering commitment to supporting small and medium-sized enterprises in their quest for sustainable success. Mr. Al-Barrak underscored SAB’s dedication to providing innovative financial solutions tailored to the specific requirements of local businesses, thus propelling their journey towards growth and prosperity. The partnership with MasterCard signifies a significant advancement in the banking card sector, showcasing SAB’s ability to deliver cutting-edge and secure financial solutions to its valued customers.
In line with Saudi Arabia’s national agendas and the Vision 2030 objectives, Adam Jones, Country General Manager, MENA Central, MasterCard, emphasized the pivotal role of technology companies and payment services providers in spearheading innovative offerings that foster the accelerated growth of enterprises across the country. Building on the enduring partnership between SAB and MasterCard, this collaborative initiative aims to advance the digital transformation of financial services in Saudi Arabia, ensuring wider accessibility to tools such as SAB’s Business credit card, ultimately benefitting local SMEs.
The SAB and MasterCard partnership is poised to address the persistent challenges faced by SMEs, offering a solution that facilitates streamlined access to credit while remaining attuned to the specific needs of the dynamic SME landscape.
