Saudi Arabia’s Public Investment Fund (PIF) has launched Tawreed Financing Solutions, a digital platform focused on supply chain finance for local companies.
The platform aims to help businesses manage liquidity and working capital more efficiently, while improving access to financing solutions for private-sector companies, particularly small and medium-sized enterprises, according to the announcement.
Tawreed has received approval from the Saudi Central Bank to begin testing its operations under the regulatory sandbox. It has also signed agreements with major banks and local companies, including Gulf International Bank Saudi Arabia, Saudi National Bank, Banque Saudi Fransi, ROSHN Group, and Nesma & Partners.
The platform will connect suppliers and buyers with local financial institutions. Its products will include financing and settlement of receivables based on approved invoices, supporting liquidity and business expansion across Saudi Arabia’s private sector.
Sultan Al-Sheikh, PIF’s head of financial institutions, said Tawreed is designed to help local companies operate with greater efficiency and flexibility by connecting stakeholders through a unified platform.
The launch forms part of PIF’s strategy to increase private-sector participation in the national economy, strengthen local suppliers, and accelerate the digitisation of financial and commercial services.
Source: Jawlah
