The Saudi British Bank (Sabb), an associated company of the HSBC Group, said it has launched a new campaign that promotes its innovative business banking solutions and services to small and medium enterprises (SMEs).

The new SABB Islamic Business Packages have been tailored to cater to the SMEs’ needs at various stages comprising start-up a businesses which are 1-4 years old, growing and expanding businesses which can be 4-7 years old and established businesses which have been in the market for 7 years and above, the bank said in a statement.

These three packages correlate mainly to the business life cycle stage, special prices and discounts on selected products and services fees on annual basis, said the Saudi bank in its statement.

SMEs, with up to SR100 million annual turnover making 95 per cent of registered businesses in Saudi Arabia are more likely to benefit from the new package, it added.

It focuses on customer’s cross-borders financial needs and tailor-made global solutions as they offer businesses a large array of services inclusive such as free Amanah current account, commodity investment account, standing instruction free for inter-account transfers, ATM cards and special discounts of up to 50 per cent on services for trade imports, trade guarantees, telex transfers, SABB autopay system, and subscription fee.

Earlier this year, SABB had opened three Business Banking Centers in Riyadh, Dammam and Jeddah entirely dedicated to serve and support SMEs in Saudi Arabia.-TradeArabia News Service