Riyadh - Sharikat Mubasher: Saudi Arabia’s Public Investment Fund (PIF) launched Tawrid Company for Financing Solutions, a digital platform that provides supply chain financing products to companies in the Saudi market.

The new company obtained the necessary permits from the Saudi Central Bank (SAMA) to operate in the Saudi market under the regulatory Sandbox environment, the PIF stated in a press release today.

Aimed at empowering companies to fund their broader activities through supply chain financing products, Tawrid will strengthen the Saudi private sector, particularly small and medium-sized enterprises (SMES), connecting buyers, suppliers, and funders through its digital platform.

The platform will offer diverse products, such as early settlement options against approved invoices, enabling businesses to expand operations, improve working capital efficiency, and strengthen liquidity management.

Tawrid has started operations and has already signed binding agreements with local banks and companies, including Gulf International Bank (GIB), Saudi National Bank (SNB), Banque Saudi Fransi (BSF), ROSHN Group, and Nesma & Partners.

Sultan Alsheikh, head of financial institutions in MENA investments at PIF, said: “Tawrid will make Saudi supply chains stronger and more resilient by further enabling companies to access financing and improve their liquidity management. Its supply chain financing products will enable businesses to operate with greater agility and efficiency, creating opportunities for the Saudi private sector in particular.”

The launch of Tawrid is part of the PIF’s strategy to increase the Saudi private sector’s contribution to PIF’s projects and portfolio companies and to grow the private sector’s share of the local economy.

The digital platform will enable local banks registered on its network to engage with registered suppliers, strengthening supply chains and further supporting the diversification of financial services and the digitalization of trade in Saudi Arabia.