Saudi Awwal Bank (SAB), has announced the launch of an instant account opening service for sole proprietorships, a move set to significantly accelerate and simplify the banking process for small and medium-sized enterprises (SMEs) in the Kingdom. The new service was unveiled at the Biban 2025 forum in Riyadh, a major event for the region’s entrepreneurial ecosystem.
This innovative digital solution is designed to empower founders by eliminating the need for physical branch visits, allowing them to establish their business bank accounts entirely online. The initiative directly addresses a common pain point for new businesses, reducing administrative hurdles and enabling entrepreneurs to focus on growth and operational management.
A Digital-First Approach to Business Banking
The new service from SAB provides a streamlined and highly efficient onboarding experience for sole proprietors. By digitizing the entire account opening process, the bank is significantly cutting down the time and effort traditionally required for setting up a business account.
This enhancement is expected to boost business efficiency, offering a more flexible and responsive banking foundation for SMEs. The move aligns with the broader digital transformation goals of Saudi Arabia’s financial sector, promoting financial inclusion and providing modern tools to support the backbone of the economy.
Launched at Biban 2025 to Empower Entrepreneurs
The announcement was strategically made during Biban 2025, the region’s largest platform for entrepreneurship, organized by the General Authority for Small and Medium Enterprises (Monsha’at). The forum, held under the theme “A Global Destination for Opportunities,” brings together thousands of entrepreneurs, investors, and policymakers to foster collaboration and innovation.
By launching this service at such a prominent event, SAB underscores its commitment to supporting the Kingdom’s thriving startup and SME landscape. The initiative directly complements the goals of Monsha’at and the Biban forum, which aim to create a more dynamic and supportive environment for business growth in Saudi Arabia.
About Saudi Awwal Bank
Saudi Awwal Bank (SAB) is one of the largest financial institutions in the Kingdom of Saudi Arabia. With a rich history of innovation, the bank offers a comprehensive range of banking and investment services to retail, corporate, and institutional clients. SAB plays a vital role in the Kingdom’s economic development by providing tailored financial solutions to support individuals and businesses.
Source: Mubasher Banks
