Dr. Majed Al-Qasabi, Minister of Commerce, honored Saudi Awwal Bank (SAB) for its pioneering role in financing and supporting small, and medium enterprises (SMEs) for the year 2024. The recognition was presented during the closing ceremony of “Biban 2025”, held under the theme “A Global Destination for Opportunities.”

Abdulrahman AlAmmar, Head of SME Business Development, represented SAB in the ceremony. The recognition reflects the Bank’s leadership in financing and empowering this sector.
It also highlights the bank’s ambitious strategy to empower entrepreneurs and boost the contribution of small and medium enterprises to national GDP, in line with Vision 2030, while reaffirming its commitment to driving a more diversified and sustainable economy through innovative financing solutions that expand access to capital and enable business growth.
Yasser Al-Barrak, Chief Corporate and Institutional Banking Officer at SAB, stated: “We are proud of this honor, which reflects the bank’s continuous commitment to supporting and empowering the SME sector, one of the key drivers of the national economy. Over the past few years, we have developed comprehensive financing solutions designed to meet the diverse needs of businesses, with a strong focus on simplifying processes and expanding access to funding.”
Al-Barrak added: “At SAB, we believe that empowering SMEs goes beyond financing; it encompasses an integrated ecosystem of services, and partnerships that contribute to the sustainability and growth of their businesses. With this vision, we continue to invest in advanced digital solutions that provide customers with a seamless and secure banking experience, while building strategic partnerships with public and private entities to enhance the business environment and create new growth opportunities for emerging enterprises.”
This recognition reaffirms SAB’s position as one of the leading financial institutions supporting business, particularly the small and medium enterprise segment, which remains a cornerstone of Saudi Arabia’s economy.