Saudi National Bank is the first bank in the kingdom to achieve procurement excellence at standard level awarded by the largest professional body in the world
CIPS 30 January 2023
The Chartered Institute of Procurement & Supply (CIPS) has certified Saudi National Bank after its successful completion of the Procurement Excellence Programme.
PEP (Procurement Excellence Programme) is a globally-recognised audit of people, processes and procedures where on successful completion, an award is presented to those organisations demonstrating excellence in their procurement and supply chain activities. The programme drives regular improvements, value across supply chains and highlights procurement’s role as a fundamental part of an organisation’s strategy and effectiveness.
Saudi National Bank was commended by the PEP assessors for working closely with individual business units when managing their significant spend of SAR6billion and for aligning spend closely to the strategic objectives of the bank. They also demonstrated that their systems, staff and procedures were under constant development and continuous improvement.
CIPS is the world’s largest professional body for procurement and supply chain and is the standard bearer for the profession in terms of defining and promoting best practices. Recognising robust and effective governance processes, the CIPS Procurement Excellence Programme is an independent and comprehensive assessment of an organisation’s procurement functions, which is designed and delivered by world-class, leading specialists.
Basem Hakeem, Head of Administration at Saudi National Bank said,
“Procurement plays a vital role in the bank’s overall strategy and functioning where we strive for excellence and efficiency across our processes.
“We take pride in being the first within the kingdom to be officially certified and awarded the CIPS Procurement Excellence Standard Award as this solidifies our bank’s aspiration in being the leading bank in the kingdom.
“The experience with CIPS was both enriching and guaranteeing that SNB sets the standard within the banking industry that has led to being accredited in record time.
Sam Achampong, Managing Director CIPS MENA, explained,
“This award clearly demonstrates a strong focussed effort by the procurement team to improve in all areas of their procurement spend and to keep them fit for future business.
“I commend them for their achievement and look forward to working with them o the next stage of their development and wish them success.”
About Saudi National Bank
The Saudi National Bank (SNB) is the largest financial institution in Saudi Arabia and one of the largest powerhouses in the region. SNB plays a vital role in supporting economic transformation in Saudi Arabia by transforming the local banking sector and catalyzing the delivery of Saudi Arabia’s Vision 2030. Its strategy is closely aligned with the Vision’s programs. SNB also leverages its position as the largest institutional and specialized financier in the Kingdom to support the Kingdom’s landmark deals and mega projects.
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