The Sukuk (Islamic instruments) Conference, organized by the Capital Market Authority (CMA) in collaboration with the World Bank, titled "Sukuk market — Challenges and opportunities," will discuss the role of the debt markets in supporting economic growth. This conference will be held next Tuesday in Riyadh.
The conference aims to discuss the challenges facing the Kingdom’s sukuk markets in particular and in the GCC states in general as well as the mechanisms and ways to develop capital markets in the region, and to reflect the development of debt markets so that they are able to provide the necessary finance to both the public and private sectors.
The conference will also discuss the incentives of demand for Islamic debt instruments and the most prominent international experiences and practices.
The conference, through its five sessions, will have presentations by government officials and representatives from the World Bank as well as the private sector, economists and financial partners in the financial market.
The first session of the conference titled, "The ingredients of sukuk markets," will discuss linking the sukuk market with economic development in the long term, the sukuk market’s contribution in providing the required funding in the Gulf region, the development of the primary and secondary instrument markets, and Islamic financial markets in organized exchanges compared to trading outside the platform.
The second session, titled "Dynamics of sukuk market," will deal with methods to develop new products that strengthen Islamic funding on the long term, the behavior of institutional investors in Islamic finance, the degree of risk-taking for investors in Islamic finance, and incentives that can be utilized to attract institutional investors over the long run.
During the third session, titled "How to create effective environment for sukuk market," speakers, will deal with major challenges in the issuance of sukuk infrastructure, infrastructure instruments, the role of sukuk in development projects, and legal aspects of sukuk.
CMA, World Bank’s Sukuk Conference to discuss challenges facing markets
CMA, World Bank’s Sukuk Conference to discuss challenges facing markets
Saudi Awwal Bank named Kingdom’s ‘best trade finance provider’
Saudi Awwal Bank, a leading financial institution in the Kingdom, has been honored by Global Finance as the “Best Trade Finance Provider” in Saudi Arabia for 2025.
The prestigious award marks the fifth consecutive year SAB has received this recognition since its landmark merger, further solidifying its reputation as the foremost trade finance institution in the Kingdom and reflecting its remarkable performance in 2024.
The award is based on a comprehensive evaluation of several key factors, including transaction volumes, global coverage, customer service excellence, competitor benchmarking, and the adoption of innovative technologies. Feedback from multinational decision-makers worldwide and insights from industry analysts and corporate executives underscored SAB’s ability to consistently outperform competitors and maintain a strong position in the competitive trade finance sector.
Yasser Al-Barrak, chief corporate and institutional banking officer at SAB, said: “This award reflects the unwavering dedication, hard work, and collaboration of numerous departments across SAB in addressing our clients’ complex and evolving needs. Our success is driven by the expertise of our teams, our innovative solutions, exceptional service, and global reach through our partnership with HSBC.”
He added: “We are also committed to providing the best services and projects that support development and promote economic growth to achieve the goals of Saudi Vision 2030.”
SAB’s product and service offerings and its steadfast commitment to client satisfaction have positioned it as a vital driver of trade within the Kingdom.
Despite a dynamic business environment, SAB continues to deliver tailored solutions that meet the unique needs of both local and multinational clients. This adaptability and innovation have enabled the bank to sustain robust performance metrics and reaffirm its status as a preferred provider of both conventional and Islamic trade finance solutions.
Today, as a leader in trade finance, SAB is aligned with Saudi Arabia’s Vision 2030 goals, striving to enhance the Kingdom’s economic growth and positioning itself as a key player in the global financial landscape.
Social Development Bank showcases financial services, inspires youth
The Social Development Bank successfully concluded its participation as a strategic partner in the “Forsaty 4” forum, held under the patronage of Qassim Gov. Prince Dr. Faisal bin Mishaal. The event took place from Jan. 22 to 25 and highlighted SDB’s commitment to supporting entrepreneurship and empowering youth capabilities.
SDB’s pavilion at the forum witnessed significant engagement from entrepreneurs and attendees, eager to learn about the diverse range of financing services offered by the bank. Visitors also benefited from specialized advisory platforms designed to support project development and showcase inspiring success stories. Additionally, attendees explored the “Jada 30” business incubator, which provides comprehensive support for emerging enterprises, and participated in the “Hackathon Jada thon,” a platform transforming creative ideas into actionable projects with technical assistance and practical guidance.
Sultan bin Abdulaziz Al-Hamidi, CEO of SDB, said: “SDB’s participation in the ‘Forsaty 4’ forum reaffirms our ongoing commitment to supporting youth and promoting entrepreneurship in line with Saudi Vision 2030. Through these events, we enhance sustainable development opportunities and open promising horizons for ambitious youth to become active contributors to the national economy.”
As part of its developmental efforts, SDB has provided financing to the Qassim region amounting to approximately SR7.9 billion ($2.1 billion). This support has been distributed across social loans, self-employment financing, and funding for productive families and small enterprises. Financing for self-employment and productive families alone grew from SR49.9 million in 2019 to SR184 million in 2024. Similarly, financing for small enterprises more than doubled, reaching SR214 million during the same period.
In addition to financial services, SDB has offered non-financial initiatives to promote a culture of self-employment and savings. More than 36,000 beneficiaries participated in 438 courses and workshops, while specialized training programs have been delivered to 24,000 individuals through 358 training courses.
“SDB’s involvement in the ‘Forsaty 4’ forum continues its legacy of impactful participation in previous editions,” it said in a statement. “Since its inception in 2019, SDB has been a strategic partner of the forum, strengthening its role in 2022 by introducing expanded services and initiatives to support entrepreneurs during the second edition. In the third edition in 2024, SDB further solidified its commitment by offering 20 advisory pavilions, 20 entrepreneurial support stations, and organizing specialized workshops, empowering young people and fostering entrepreneurship across the Kingdom, in alignment with the goals of Saudi Vision 2030.”
LuLu festival celebrates Saudi-India friendship
LuLu Hypermarket is hosting its annual Indian festival, offering shoppers a vibrant range of Indian products, flavors, and cultural activities.
Marking another milestone in strengthening the cultural ties between Saudi Arabia and India, the LuLu India Fest 2025 is running from Jan. 24 to 30 at all LuLu outlets across Saudi Arabia.
The event officially kicked off on Jan. 25 at LuLu Hypermarket, Riyadh Avenue Mall, Murabba, with a grand inauguration by Indian Ambassador Dr. Suhel Ajaz Khan. The ambassador was warmly welcomed with a purple carpet reception, accompanied by a bouquet and traditional flower garland.
A creative unveiling ceremony began the festivities, where the Indian Product Wall was revealed through a unique chess-themed launch. Following this, guests enjoyed a guided tour of the hypermarket, where they explored various kiosks showcasing Indian culinary delights from 10 different states. Attendees also interacted with a robot that offered interesting insights into each dish.
In partnership with APEDA, the launch event featured a special display of organic Indian products. Additionally, a new product launch spotlighted fresh Indian fruits, vegetables, and FMCG items. Live cooking demonstrations by Saudi chefs highlighted the fusion of Saudi and Indian culinary traditions, showcasing dishes that blend the flavors of both nations.
The cultural celebrations included entertaining Indian dance performances, further emphasizing the unity between Saudi and Indian cultures.
During his keynote address, Ambassador Khan expressed his appreciation for the event, saying: “This festival is a celebration of the enduring friendship between India and Saudi Arabia. LuLu India Fest exemplifies how we can honor both Indian products and cultural ties, fostering mutual respect and understanding between our two nations.”
Shehim Mohammed, director of LuLu Saudi Hypermarkets, added: “LuLu India Fest is a celebration of Indian heritage and a symbol of the growing partnership between Saudi Arabia and India. At LuLu, we take pride in bridging these cultures and uniting our communities through shared experiences. This event reinforces our commitment to promoting cultural exchange and strengthening the commercial bonds between these two great nations.”
With Indian flavors, fashion, and culture taking center stage, LuLu India Fest 2025 exemplifies LuLu Group’s commitment to uniting communities and providing memorable shopping experiences.
At Leap 2025, Ericsson to reinforce commitment to Saudi Vision 2030
Ericsson will showcase its cutting-edge technologies and innovation leadership at LEAP 2025, taking place Feb. 9-12, at the Riyadh Exhibition and Convention Center, Malham. Demonstrating its commitment to Saudi Vision 2030, Ericsson will display advanced solutions, present live technology demonstrations, share success stories with partners, and unveil expert insights into the future of connectivity.
Under the theme “Step Forward: Discover the Unfolding Future,” Ericsson is reinforcing its long-standing partnership with its partners in Saudi Arabia, which spans more than four decades. Through collaborations with communication service providers, enterprises, and government entities, Ericsson is driving the localization of advanced technologies, nurturing local talent, and contributing to the Kingdom’s position as a global leader in technology and innovation.
Ericsson’s booth will feature interactive demonstrations, panel discussions, and technical sessions of its latest innovations across 5G, artificial intelligence, and advanced network solutions, and showcases on AI-powered networks and immersive use cases for consumers and enterprises. This will allow visitors to get a feel of networks of the future and explore how these technologies are enabling industries to digitize, improve efficiency, and achieve sustainability goals.
Adding to the event’s thought leadership, Ericsson will host live episodes for its Tech Insights podcast featuring industry leaders and experts discussing the transformative impact of connectivity on various sectors.
Håkan Cervell, vice president and head of Saudi Arabia at Ericsson Middle East and Africa, said: “Like every year, we are truly excited to showcase Ericsson’s innovative technologies at LEAP 2025, and how they are empowering a sustainable, connected future for Saudi Arabia and beyond. Our presence at this event reflects our steadfast dedication to supporting the Kingdom’s Vision 2030 by enhancing digital infrastructure, fostering sustainability, and enabling progress through advanced connectivity solutions.”
Cenomi Centers to champion global retail industry at 2025 RLC Global Forum
Cenomi Centers, the largest owner, operator and developer of contemporary lifestyle centers in Saudi Arabia, has announced a refreshed and renewed strategic partnership with the 2025 RLC Global Forum, supporting the platform for another year.
Taking place on Feb. 4-5 in Riyadh, the highly anticipated event brings together global powerhouses, innovators and leaders across the retail sector to discuss the most important issues affecting the industry today.
This year’s gathering takes place as Saudi Arabia’s retail market shows remarkable resilience and growth, totaling SR37.4 billion ($9.97 billion) in Q3 2024, against a backdrop of global economic uncertainty. Furthermore, the Saudi retail sector is expected to increase by a compound annual growth rate of 7.2 percent to 2028, reaching a total value of $142 billion; Cenomi Centers is at the forefront of this progress.
Across the two-day event, there will be more than 100 speakers and over 600 companies present, alongside influential media analysts and partners. Regional and global leaders, CEOs and entrepreneurs will debate how to deliver growth and development across the sector, discussing strategy, innovation and key industry trends. Other distinguished partners to be involved include Diriyah Company, Apparel Group, Chalhoub Group and Panda Retail Company
Alison Rehill-Erguven, CEO of Cenomi Centers, said: “Our strategic partnership with the RLC Global Forum comes at an exciting time of expansion for Cenomi Centers, with our groundbreaking Jawharat Jeddah and Riyadh retail developments set to launch in 2025, changing the shape of the Saudi retail sector. We are thrilled to once again be championing the global retail industry at this leading event and look forward to some lively discussion on how what we do informs economies on both a local, national and international level.”
Panos Linardos, chairman of the RLC Global Forum, said: “Our partnership with Cenomi Centers reflects a shared ambition to shape the future of retail in Saudi Arabia and beyond. Together, we are not only addressing today’s challenges but also driving meaningful conversations and actions that will define the next era of retail. This collaboration empowers Saudi Arabia’s retail sector to set new global benchmarks in resilience, growth, and innovation.”
