Saudi Awwal Bank (SAB), one of the leading banks in the Kingdom of Saudi Arabia, has obtained ISO 20400 for sustainable procurement, becoming the first bank in the Middle East and Africa (MEA) region and the 42nd entity globally to receive this international recognition from BSI. Encompassing every stage from strategic vision to operational delivery, this achievement reflects SAB's alignment with international standards in integrating sustainability into its procurement practices. Developed by the International Organization for Standardization (ISO), ISO 20400 provides a globally recognized framework for integrating sustainability across procurement functions. This standard focuses on governance, labor practices, human rights, environmental impact and ethical business conduct throughout the supply chain. The alignment assessment was conducted in collaboration with BSI (British Standards Institution), the business improvement and standards company, and a founding member of ISO. This process involved a comprehensive review of SAB's procurement frameworks, strategies, and implementation mechanisms to evaluate the integration of sustainability into the bank's operations. As a result of this assessment, SAB has strengthened its sustainability integration in procurement decision-making. The bank has enhanced supplier engagement practices and implemented more robust approaches to ethical sourcing, ensuring consistency with its broader environmental, social, and governance (ESG) objectives. These enhancements support the advancement of SAB's long-term ESG agenda through responsible operations and transparent supply chain management. Ghada Al Jarbou, Chief Operating Officer at SAB, said: "The adoption of ISO 20400 represents a significant milestone in institutionalizing sustainability across our procurement activities. It reflects our commitment to responsible sourcing and enhances our ability to engage suppliers in line with SAB's ESG priorities and Vision 2030." Ilias Karampoikis, META Sales and Commercial Director at BSI, said: "There is a significant opportunity for banks and other financial organizations to influence sustainability through their lending, investment, and governance practices. It's great to see Saudi Awwal Bank leading the way with this achievement to the sustainable procurement standard (ISO 20400), which demonstrates that the organization is making conscious choices around its environmental, social, and economic impact, helping to accelerate progress towards a sustainable world. Congratulations to the team for this achievement." It is noteworthy that Saudi Awwal Bank (SAB) is one of the largest banks in the Kingdom, with a history in Saudi Arabia spanning over 90 years. Over the past nine decades, it has been an active partner in supporting the Kingdom's economic growth and social development. SAB is a leading corporate and institutional international bank in the Kingdom with a top Wealth & Personal Banking proposition. SAB is also a leader in trade finance, foreign exchange, debt wholesale banking, digital service innovation, and ESG, in Saudi Arabia and the broader region. SAB offers integrated financial and banking services, including corporate banking, investment, private banking, and treasury. The bank's paid-up capital is SR 20.5 billion, following its legal merger with Alawwal Bank on 14th March 2021, when it was formerly known as the Saudi British Bank (SABB). SAB operates under the supervision and regulation of the Saudi Central Bank and is a partner of the HSBC Group.
