{"id":62616,"date":"2022-12-25T14:52:53","date_gmt":"2022-12-25T11:52:53","guid":{"rendered":"https:\/\/indexeconomic.com\/?p=62616"},"modified":"2022-12-25T14:52:54","modified_gmt":"2022-12-25T11:52:54","slug":"tabadul-and-al-rajhi-launch-the-first-end-to-end-electronic-bank-guarantee","status":"publish","type":"post","link":"https:\/\/indexeconomic.com\/?p=62616","title":{"rendered":"\u00a0\u00a0 Tabadul and Al Rajhi\u00a0 launch the first end-to-end electronic bank guarantee"},"content":{"rendered":"\n<p class=\"has-text-align-left\">The Saudi Company for Exchanging Information Electronically (TABADUL) celebrated issuing the first end-to-end electronic bank guarantee with Al Rajhi bank through its flagship digital product, Wthaq offering premium financial solutions for the banking sector in the Kingdom in line with global best practices.<\/p>\n\n\n\n<p class=\"has-text-align-left\">The ceremony, held at Al Rajhi headquarters in Riyadh, was attended by Tabadul CEO Mr. Majed bin Faleh Al-Otaibi and Corporate Banking General Manager at Al Rajhi, Mr. Hossam Al-Basrawi along with a number of banking experts and stakeholders.<\/p>\n\n\n\n<p class=\"has-text-align-left\">The event announced the issuance of Al Rajhi\u2019s first bank guarantee letter through Wthaq platform which brought the agreement into effect by issuing and reporting end-to-end bank guarantees through Wthaq in record time<\/p>\n\n\n\n<p class=\"has-text-align-left\">To this end, Tabadul CEO Mr. Majed bin Faleh Al-Otaibi stated: \u201cThe agreement with Al Rajhi Bank cements Tabadul\u2019s overarching strategy of innovating and implementing digital solutions, in line with Saudi Vision 2030. Wthaq\u2019s strategic approach allows for fully automating, controlling, and unifying secure and reliable bank guarantees in the Kingdom through periodic statistical reports that enhance the level of satisfaction among all beneficiaries.\u201d<\/p>\n\n\n\n<p class=\"has-text-align-left\">For his part, Corporate Banking General Manager at Al Rajhi, Mr. Hossam Al-Basrawi said: \u201cThis vital partnership will offer our clients an unrivaled opportunity to leverage Wthaq\u2019s features and services and enhance Al Rajhi bank\u2019s premium electronic and digital solutions. It will also inspire quality transactions and save time and effort in issuing and verifying secure and reliable bank guarantees while highlighting Al Rajhi\u2019s strategy of developing the banking and financial sector in the Kingdom.\u201d<\/p>\n\n\n\n<p class=\"has-text-align-left\">Notably, Wthaq is one of Tabadul\u2019s flagship products and the first-of-its-kind digital platform in the Kingdom and the region that provides an integration mechanism with regional banks and specializes in issuing digital bank guarantees under the supervision of the Saudi Central Bank (SAMA). Issuing the first digital bank guarantee is an extension to Al Rajhi Bank\u2019s pioneering initiative of digitizing cross-border letters of credit, one of the most vital trade financing tools worldwide.&nbsp;<\/p>\n\n\n\n<p class=\"has-text-align-left\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Saudi Company for Exchanging Information Electronically (TABADUL) celebrated issuing the first end-to-end electronic bank guarantee with Al Rajhi bank through its flagship digital product, Wthaq offering premium financial solutions for the banking sector in the Kingdom in line with global best practices. The ceremony, held at Al Rajhi headquarters in Riyadh, was attended by &hellip;<\/p>\n","protected":false},"author":2,"featured_media":62617,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[439],"tags":[],"class_list":["post-62616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u00a0\u00a0 Tabadul and Al Rajhi\u00a0 launch the first end-to-end electronic bank guarantee - \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=62616\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u00a0\u00a0 Tabadul and Al Rajhi\u00a0 launch the first end-to-end electronic bank guarantee - \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=\"The Saudi Company for Exchanging Information Electronically (TABADUL) celebrated issuing the first end-to-end electronic bank guarantee with Al Rajhi bank through its flagship digital product, Wthaq offering premium financial solutions for the banking sector in the Kingdom in line with global best practices. 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