Saudi Awwal Bank Achieves ISO 20400 Certification for Sustainable Procurement
In a groundbreaking move, Saudi Awwal Bank (SAB), a prominent financial institution in the Kingdom of Saudi Arabia, has secured the prestigious ISO 20400 certification for sustainable procurement. This remarkable accomplishment positions SAB as the first bank in the Middle East and Africa region and the 42nd entity globally to receive this esteemed recognition from BSI. The certification underscores SAB’s dedication to aligning with international standards and integrating sustainability into its procurement practices at every level, from strategic vision to operational execution.
ISO 20400, developed by the International Organization for Standardization (ISO), offers a globally recognized framework for incorporating sustainability principles across procurement functions. Emphasizing governance, labor practices, human rights, environmental impact, and ethical business conduct throughout the supply chain, this standard sets the benchmark for responsible procurement practices.
Collaborating with BSI (British Standards Institution), a leading business improvement and standards organization and a founding member of ISO, SAB underwent a rigorous alignment assessment of its procurement frameworks, strategies, and implementation mechanisms. The evaluation aimed to gauge the bank’s integration of sustainability into its procurement operations, leading to enhanced decision-making processes and supplier engagement practices.
Following the assessment, SAB has bolstered its sustainability integration within procurement activities, implementing more robust approaches to ethical sourcing and supplier engagement. These initiatives are in line with the bank’s broader environmental, social, and governance (ESG) objectives, reinforcing its commitment to responsible operations and transparent supply chain management.
Ghada Al Jarbou, Chief Operating Officer at SAB, expressed, “The adoption of ISO 20400 signifies a significant milestone in embedding sustainability across our procurement activities. It showcases our dedication to responsible sourcing and strengthens our capacity to engage suppliers in alignment with SAB’s ESG priorities and Vision 2030.”
Ilias Karampoikis, META Sales and Commercial Director at BSI, commended SAB’s achievement, stating, “Saudi Awwal Bank’s attainment of the ISO 20400 sustainable procurement standard is a testament to the organization’s conscious efforts towards environmental, social, and economic impact. This milestone underscores SAB’s role in driving progress towards a sustainable world through deliberate choices in its operations.”
With a legacy spanning over 90 years in Saudi Arabia, Saudi Awwal Bank (SAB) is a key player in the Kingdom’s financial landscape, actively contributing to economic growth and social development. As a leading corporate and institutional bank, SAB offers a comprehensive suite of financial services, including wealth management, trade finance, digital innovation, and ESG initiatives, both in Saudi Arabia and the broader region.
Following its merger with Alawwal Bank in March 2021, SAB operates with a paid-up capital of SR 20.5 billion, formerly known as the Saudi British Bank (SABB). Regulated by the Saudi Central Bank and part of the HSBC Group, SAB continues to uphold its reputation as a trusted financial partner for businesses and individuals alike.
