PIF launches Tawreed to offer supply chain finance solutions in Saudi Arabia
Saudi Arabia’s Public Investment Fund has launched Tawreed, a digital platform providing supply chain finance products to companies in the Kingdom.
The Public Investment Fund (PIF) of Saudi Arabia has launched Tawreed, a digital platform offering supply chain finance solutions to companies in the Kingdom. The platform, which has received approval from the Saudi Central Bank (SAMA) to operate within a regulatory sandbox, aims to strengthen local supply chains and increase their resilience by improving companies' access to finance and cash flow management.
PIF's Head of Financial Institutions for Middle East and North Africa Investments, Sultan Al-Sheikh, highlighted that Tawreed will provide supply chain finance solutions, enabling businesses to operate more efficiently and flexibly, and creating more opportunities for the local private sector.
Brief written by urgent.news from Ajel English's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
