Saudi Information Exchange Company (Tabadul) is wholly owned by Elm. It works to promote trade and the movement of imports and exports, facilitating commercial transactions by connecting stakeholders and improving communication. Additionally, it provides electronic solutions that enable the effective exchange of information, goods, and services across the government and business sectors. Its headquarters are located in the capital, Riyadh.
Establishment of the Saudi Information Exchange Company
The Saudi Information Exchange Company was established by Royal Decree No. (M/29) issued in 2009 and based on the resolution of the Council of Ministers. The company aims to invest in information technology, communications, and knowledge-based industries on a commercial basis. It aims to develop software, systems, telecommunications applications, and electronic transaction solutions to enhance the electronic exchange and transfer of information between the Zakat, Tax and Customs Authority and entities related to export and import services from both governmental and commercial sectors.
In 2020, Elm Company signed an agreement to purchase all shares of Tabadul from the Public Investment Fund, while retaining Tabadul's brand and identity. The executive management of Tabadul continues to operate the company and report to its Board of Directors.
The Saudi Information Exchange Company works on building effective strategies that achieve the highest quality standards, expanding the scope of solutions, globalizing, and developing them. The company also aims to achieve sustainability by ensuring customer satisfaction through improving user experience, continuous development, and operational monitoring.
Objectives of the Saudi Information Exchange Company
Tabadul aims to advance the Kingdom from the forty-ninth to the twenty-fifth position globally and the first regionally in the Logistics Performance Index by innovating secure digital solutions for the logistics sector. In 2017, Tabadul began implementing electronic linkage for entities involved in import and export operations through a unified system. FASAH Platform was launched in 2018. It is an electronic platform through which importers, exporters, and customs brokers can complete their transactions electronically.
Contributions of the FASAH Platform affiliated with the Saudi Information Exchange Company
The FASAH Platform, affiliated with the Saudi Information Exchange Company, has contributed to speeding up commercial operations and enhancing the confidence of foreign investors. It has increased the level of transparency in operations, facilitated the electronic tracking of clearance processes, and enabled the clearance of containers within twenty-four hours. This, in turn, has reduced the time for receiving shipments at ports to less than thirty minutes. As a result, the company has been able to save money and effort, achieving savings of approximately SAR1 billion and over SAR34 million work hours from its launch until late 2020.
Today, the FASAH Platform serves more than 52,486 importers and exporters, 3,349 customs brokers, and 154 shipping agents, in addition to dozens of port operators, rail operators, private laboratories, car agents, and express mail services. This is achieved through eight airports, thirteen land ports, twelve seaports, and one dry port.
The Saudi Information Exchange Company launched the Truck Management System.
In 2019, the Saudi Information Exchange Company launched the Truck Management System to automate the operation and management of incoming and outgoing trucks. This system aims to reduce the time it takes to access the FASAH port platform, facilitate the entry and exit procedures for trucks, increase the operational capacity of customs ports, alleviate traffic congestion, improve the operational efficiency of port operations, and ease the loading and unloading processes.
The Saudi Information Exchange Company has provided financial solutions such as the WATHAQ platform, launched in 2020. This platform enables users to view and issue bank guarantees directly through a secure electronic link between the user, banks, and relevant entities. It is the first platform of its kind in the Kingdom. Additionally, the company offers FASAH-PAY, a service that meets the needs of B2B (business-to-business) and G2B (government-to-business) clients by digitizing invoices for easy payment.
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