Lamaaa forms Shariah compliant supply chain finance partnership with Banque Saudi Fransi

Lamaaa forms Shariah compliant supply chain finance partnership with Banque Saudi Fransi

Source: Lamaa

Banque Saudi Fransi has today signed a landmark Memorandum of Understanding agreement with Lamaa.

The partnership with Lamaa marks a collaboration between the two companies to develop, evaluate and launch new products and services that will empower small businesses and deliver real benefits to companies of every size across the supply chain.

Backed by Saudi Aramco and Raed Ventures, Lamaa is one of the Kingdom’s fastest growing fintechs. It is the first Shariah Compliant Supply Chain Finance platform in the region. The ground-breaking payables program enables and incentivises large corporates to pay their SME suppliers early in exchange for a small discount. Lamaa also increase the prospect of funding through its innovative solutions. Where treasury is unable to fund early payment, Lamaa presents them to a dedicated marketplace of Banks, Financial Institutions and Asset Managers.

The partnership with Lamaa underpins Bank Saudi Fransi’s commitment to lead the way in delivering Financial Sector Development goals to