Saudi Arabia’s Public Investment Fund (PIF) has launched Tawrid Company for Financing Solutions, a digital platform offering supply chain finance to companies in the kingdom.
Tawrid has started operations after obtaining a permit from the Saudi Central Bank (Sama) to operate in the regulator’s sandbox, according to a PIF statement this week.
The platform connects buyers, suppliers and funders. It has signed binding agreements with Gulf International Bank, Saudi National Bank and Banque Saudi Fransi (BSF), as well as real estate developer ROSHN Group and contractor Nesma & Partners.
Local banks registered on the network can engage with registered suppliers, PIF said. Products include early settlement against approved invoices, and the offering is aimed particularly at small and medium-sized businesses, the Saudi fund added.
“Tawrid will make Saudi supply chains stronger and more resilient by further enabling companies to access financing and improve their liquidity management,” said Sultan Alsheikh, head of financial institutions in Mena investments at PIF.
“Its supply chain financing products will enable businesses to operate with greater agility and efficiency, creating opportunities for the Saudi private sector in particular.”
PIF said the launch is in line with its 2026-2030 strategy, which aims to increase the Saudi private sector’s contribution to the fund’s projects and portfolio companies, adding that financial services are an enabler of the six ecosystems set out in that strategy.
Sama opened a public consultation on August 26 on draft rules governing supply chain finance and supply chain finance intermediation activities across the kingdom. Stakeholders were given 30 days to submit comments.
Meanwhile, Saudi banks have also been building out their digital trade finance capabilities as the country ramps up its international trade ambitions, with the head of trade finance products at Al Rajhi Bank discussing the bank’s approach with GTR last year.
