{"id":61343,"date":"2022-11-23T07:21:47","date_gmt":"2022-11-23T04:21:47","guid":{"rendered":"http:\/\/www.indexeconomic.com\/?p=61343"},"modified":"2022-11-23T07:21:48","modified_gmt":"2022-11-23T04:21:48","slug":"alrajhi-bank-launches-yet-another-pioneering-trade-digitalization-initiative-in-ksa","status":"publish","type":"post","link":"https:\/\/indexeconomic.com\/?p=61343","title":{"rendered":"Alrajhi Bank launches yet another pioneering Trade digitalization initiative in KSA"},"content":{"rendered":"\n

<\/p>\n\n\n\n

AlRajhi Bank has launched a new\nend-end cross-border digital trade solution for Letters of Credit (LC). This\ninitiative is in partnership with Contour. The digital LC solution will offer a\nmajor advantage to AlRajhi Bank\u2019s customers through reduced paperwork and enhanced\nefficiency by leveraging a decentralized technology for Trade digitalization.<\/p>\n\n\n\n

Hossam AlBasrawi, Head of\nCorporate (Wholesale) Banking Group said \u201cThis innovative solution will\nsignificantly reduce the time required to issue and advise the letter of\ncredit, in addition to submitting documents under the letters of credit. This\nmove by Al Rajhi Bank will also contribute to the digitization and expansion of\ntrade in the Kingdom in line with the objectives of Vision 2030 as it aims to\nsimplify cross-border trade transactions that rely heavily on paperwork, thus\nenhancing the ultimate digital experience.<\/p>\n\n\n\n

Contour is a blockchain based digital trade finance network consisting of banks, corporates and Trade ecosystem partners. <\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

AlRajhi Bank has launched a new end-end cross-border digital trade solution for Letters of Credit (LC). This initiative is in partnership with Contour. The digital LC solution will offer a major advantage to AlRajhi Bank\u2019s customers through reduced paperwork and enhanced efficiency by leveraging a decentralized technology for Trade digitalization. Hossam AlBasrawi, Head of Corporate …<\/p>\n","protected":false},"author":2,"featured_media":61290,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[439],"tags":[],"class_list":["post-61343","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news"],"yoast_head":"\nAlrajhi Bank launches yet another pioneering Trade digitalization initiative in KSA - \u0635\u062d\u064a\u0641\u0629 \u0627\u0644\u0645\u0624\u0634\u0631 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/indexeconomic.com\/?p=61343\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alrajhi Bank launches yet another pioneering Trade digitalization initiative in KSA - \u0635\u062d\u064a\u0641\u0629 \u0627\u0644\u0645\u0624\u0634\u0631 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a\" \/>\n<meta property=\"og:description\" content=\"AlRajhi Bank has launched a new end-end cross-border digital trade solution for Letters of Credit (LC). This initiative is in partnership with Contour. The digital LC solution will offer a major advantage to AlRajhi Bank\u2019s customers through reduced paperwork and enhanced efficiency by leveraging a decentralized technology for Trade digitalization. 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