23/06/2026 02:27 AST
Saudi Awwal Bank (SAB), one of the leading banks in the Kingdom of Saudi Arabia, has been recognized with global and regional honors by Global Finance as part of its Innovators Awards 2026, reaffirming the bank's leadership in financial innovation.
As part of Global Finance's thirteenth annual Innovators Awards program, recognizing entities that regularly identify new paths and design new tools in finance, SAB was awarded the Top Global Financial Innovation award for the world's first Tokenized Islamic Repo experiment, a Shariah-compliant repo transaction on blockchain.
SAB was also recognized among the Top Financial Innovations in the Middle East for its Xperiment, a Secure Disconnected Innovation & Fintech Collaboration Platform.
Saeed Assiri, Chief Innovation Banking Officer at SAB, stated: "This recognition from Global Finance reflects SAB's continued focus on embedding innovation at the core of our strategy. From advancing Shariah-compliant financial solutions to enabling secure collaboration across the fintech ecosystem, we are committed to developing solutions that enhance efficiency, resilience, and long-term value for our clients and the broader financial sector to accelerate financial innovation in Saudi Arabia."
These recognitions highlight SAB's role in driving the evolution of banking through advanced technologies and innovative platforms. As the financial services industry continues to be shaped by digital transformation, SAB remains focused on delivering impactful solutions that support sustainable growth and strengthen the Kingdom's position as a global financial hub.
About SAB:
Saudi Awwal Bank (SAB) is one of the largest banks in the Kingdom, with a history in Saudi Arabia spanning over 90 years. Over the past nine decades, it has been an active partner in supporting the Kingdom's economic growth and social development.
SAB is a leading corporate and institutional international bank in the Kingdom with a top Wealth & Personal Banking proposition. SAB is also a leader in trade finance, foreign exchange, debt wholesale banking, digital service innovation, and ESG, in Saudi Arabia and the broader region.
SAB offers integrated financial and banking services, including corporate banking, investment, private banking, and treasury. The bank's paid-up capital is SR 20.5 billion, following its legal merger with Alawwal Bank on 14th March 2021, when it was formerly known as the Saudi British Bank (SABB). SAB operates under the supervision and regulation of the Saudi Central Bank and is a partner of the HSBC Group.
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