Saudi Awwal Bank named Kingdom’s ‘best trade finance provider’

Riyad Bank, a leading financial institution in Saudi Arabia, has launched a white paper outlining its sustainability strategy, setting a new standard for sustainability in the regional banking sector.

“The white paper shares our approach, our choices, and the methodology that underpins our strategy in a transparent and collaborative manner so that others may benefit from our experience,” Riyad Bank said in a statement.

The strategy is aligned with the Kingdom’s Vision 2030 and its commitment to net-zero by 2060. It includes ambitious goals for sustainable finance, emissions reduction, and community engagement.

Key highlights include:

• Net-zero by 2060: Aligning with Saudi Arabia’s national targets, the bank aims to achieve net-zero emissions by 2060, with an ambitious interim target of net-zero for its own operations (scope 1 and 2) by 2035. 
• Internal 2030 sector targets: The bank has established its scope 3 financed emissions baseline and set science-based interim decarbonization targets for its power and iron and steel sectors.
• Sustainable finance leadership: The bank has set a target of SR20 billion in sustainable finance volume by 2030, demonstrating its commitment to financing projects and initiatives that contribute to a sustainable future. 
• Expanding industry partnerships: The bank will increase engagement with leading sustainability initiatives, including the Partnership for Carbon Accounting Financials, the UN Global Compact, CDP, and the Principles for Responsible Banking. 
• Strong ESG governance: The bank has enhanced its existing robust ESG governance framework, with increased oversight at the board and management levels, integrated KPIs, and incentivized sustainability performance. 
• Community engagement: The strategy emphasizes enhanced community engagement and initiatives, focusing on creating a positive social impact. 

Riyad Bank’s sustainability strategy is accompanied by a comprehensive three-year roadmap for the bank’s sustainability journey, setting a clear path for the bank to create long-term value for its stakeholders and contribute to a sustainable future for the Kingdom and the region. 

The Ritz-Carlton, Jeddah has appointed Vipin Khattar as its new general manager. A transformational leader with a proven record of accomplishments and delivering exceptional results, Khattar brings a wealth of expertise and visionary leadership, honed over an illustrious career with some of the world’s most prestigious hospitality brands. His appointment marks an exciting new chapter for this iconic property.

Khattar joins The Ritz-Carlton, Jeddah following a distinguished tenure as multi-property general manager in Dubai, where he led The St. Regis Downtown Dubai, Delta Hotels by Marriott, Dubai Investment Park, and Marriott Residences Al-Barsha South, Dubai to much success. Known for his strategic acumen, operational excellence, and unrelenting focus on guest satisfaction, he consistently elevated these properties to industry-leading positions.

Previously, as general manager of JW Marriott New Delhi Aerocity, Khattar cemented the hotel’s reputation as a beacon of luxury in India’s competitive hospitality landscape. His career also includes an impressive tenure with Hyatt, where he oversaw flagship properties in Dubai and Sharm El-Sheikh, earning accolades for exceptional performance, guest experience, and his ability to inspire and empower teams.

Reflecting on his new role, Khattar said: “It is both an honor and a profound responsibility to lead The Ritz-Carlton, Jeddah, a property synonymous with timeless elegance and world-class service.” 

Together with the passionate and dedicated team, I am committed to delivering extraordinary guest experiences while elevating the hotel’s status as a premier destination.”

Khattar is a graduate of the prestigious International Hotel and Tourism Training Institute in Montreux, Switzerland. Beyond his professional achievements, he is a passionate traveler who has explored more than 50 countries, drawing inspiration from diverse cultures and experiences. Living by the philosophy that “a healthy body fosters a healthy mind,” he maintains a disciplined lifestyle, incorporating clean eating and regular fitness into his routine — practices he credits with creativity and innovation.

Khattar’s appointment solidifies The Ritz-Carlton, Jeddah’s commitment to transformative leadership and unparalleled hospitality.