SAUDI-INDIAN BUSINESS NETWORK (SIBN)

The Saudi-Indian Business Network (SIBN) is a professional organization consisting of Indian expatriates and Saudi nationals associated with India-Saudi Arabia business relations launched by the then Ambassador of India to the Kingdom of Saudi Arabia H.E. Shri M.O.H. Farook as the founder patron in March 2005 under the aegis of the Consulate General of India, Jeddah. It is now been extended to consist of a pan-Saudi organization based in Riyadh, supported by three regional chapters based in Jeddah, Riyadh and Dammam respectively.

To promote trade and commerce and formation of manufacturing and trading joint ventures between India and Kingdom of Saudi Arabia (KSA) and promoting investment in either country on a bilateral basis.

The Saudi-Indian Business Network (SIBN) is a pan-Saudi professional organization of senior Indian expatriates and Saudi nationals associated with trade and commerce formally launched by H.E. Shri. Ausaf Sayeed, Ambassador of India to the Kingdom of Saudi Arabia (KSA) as its founder Patron in September 2020 under the aegis of the Embassy of India, Riyadh. The SIBN consists of a national level organization based in Riyadh and three regional chapters based in Jeddah, Riyadh and Dammam respectively.

The Saudi-Indian Business Network (SIBN) aims to provide a forum for the promotion of trade and commerce as well as manufacturing & trading joint ventures between Indian and Saudi companies in addition to promoting investment in either country on a bilateral basis. The SIBN aims to act as an informal interface in introducing Indian Companies to the vast opportunities that exist in the industrial scenario in KSA and to aid them in projecting their expertise and strengths in various disciplines for prospective alliances with business & trade organizations operating in KSA. It also aims to provide a reciprocal interface for business and trade organizations established in KSA to explore business opportunities in India.

To promote trade and commerce and formation of manufacturing and trading joint ventures between India and KSA and promoting investment in either country on a bilateral basis.

The Manifesto of SIBN may be broadly defined as follows:

• ➤ Conduct monthly meetings involving Indian & Saudi businessmen for exchange of information on topics of mutual interests.
• ➤ Conduct monthly meetings involving Indian & Saudi businessmen for exchange of information on topics of mutual interests.
• ➤ Conduct monthly meetings involving Indian & Saudi businessmen for exchange of information on topics of mutual interests.
• ➤ Identify investment and business opportunities in India for leading Saudi business houses.
• ➤ Identify sectors in which Indian companies could participate with their Saudi counterparts in joint ventures, partnership, etc. for trading, contracting and manufacturing both in Saudi Arabia and India.
• ➤ Identify the different Indian products and services which could find markets in KSA.
• ➤ Suggest & plan strategies for promoting Indian goods and companies of repute in KSA.
• ➤ Suggest and advise the Indian Trade Promotion Bodies, Chambers of Commerce and Industry and other relevant organizations on matters related to economy and trade in KSA. Extend similar service to Saudi trade promotion bodies on matters relating to economy and investment climate in India.
• ➤ Develop, maintain and upgrade a database of manufacturers / vendors in India desirous of exporting their products and services.
• ➤ Provide information where feasible on Export/Import inquiries from India/KSA to promote trade and cooperation.
• ➤ Provide logistic and advisory support during the visit of the Indian delegations to KSA and vice versa.
• ➤ Arrange regular meetings & seminars involving members of the Saudi business community to facilitate greater co-operation on business, trade and industry related issues.
• ➤ Guide companies in KSA in resolving issues pertaining to non-conformity of products or services from Indian sources.
• ➤ In general act as a focal point for representing the Indian business & professional interests in KSA and vice versa.

The membership of SIBN would be open to any Saudi and Indian nationals or Persons of Indian Origin (PIOs) who are perceived as being resourceful in contributing towards furtherance of trade and economic relations between India and the Kingdom of Saudi Arabia.

The broad requirements for membership would be as follows:

• ➤ Saudi nationals currently involved in business with India or have investments in India
• ➤ Saudi sponsors/agents of Indian companies.
• ➤ Representatives of leading trade bodies in KSA/India
• ➤ Indian nationals/Non-resident Indians (NRls) / Persons of Indian Origin (PIOs) currently involved in transacting business between India and KSA in products and or services
• ➤ Senior Indian expatriates and professionals, who in the view of the Patron, can contribute towards developing the progress of Indo-Saudi business relations

New members would be inducted upon nomination by the Patron from time to time based on the recommendations of the National Executive Committee or the respective Regional Executive Committees. Prospective members would be required to complete a membership application form for review and acceptance by the National Executive Committee of SIBN.

The governance and control of the SIBN and its affairs shall vest with its National Executive Committee and the committee shall exercise all the powers of the SIBN and perform all duties of SIBN with intent to give effect to the provisions of the By-Laws, the Rules and the Resolutions adopted by the Council of the institution in respect of the SIBN and the advice and guidelines from the Embassy of India in the Kingdom of Saudi Arabia.

The National Executive committee will consist of members nominated by the Patron as follows:

• ➤ President
• ➤ Three Vice-Presidents (representing the three regional chapters)
• ➤ General Secretary
• ➤ Joint Secretary
• ➤ Treasurer
• ➤ Fifteen Executive Members (5 from each regional chapter)

There shall be three Regional Executive Committees of the three regional chapters based in Riyadh, Dammam and Jeddah. Each Regional Executive Committee will consist of members nominated by the Patron, as follows:

• ➤ Head
• ➤ Deputy Head
• ➤ General Secretary
• ➤ Treasurer
• ➤ Five Executive Members

The Head of each of the three Regional Chapters shall also serve as Vice President in the National Executive Committee of SIBN.

Two Chief Coordinating Officers (CCOs) appointed by the Patron, one each from amongst the officials of the Embassy of India, Riyadh and the Consulate General of India, Jeddah would act as an interface between the Embassy/Consulate and SIBN.

The term of the National and Regional Executive Committees shall be 2 years and Members can hold office for a maximum of 2 consecutive terms.

The National Executive Committee (“Committee”) shall direct and manage the affairs and property of the SIBN subject to the provisions of the Rules. The Committee may appoint sub-committees, including sectoral sub-Committees in consultation with the CCO and may delegate any of its powers to any such sub-Committee. Committee may in addition, delegate any of its power to its member or such other person or persons or bodies as it may appoint or constitute from time to time for efficient working of the SIBN. All such sub-Committees or persons shall be in the exercise of powers delegated to them by the Committee and in the transaction of the business conform to any direction that may be given to them by the Committee and subject thereto may regulate their proceedings as they deem fit.

Similarly, each of the Regional Executive Committees shall direct and manage the affairs and property of the respective regional chapter of SIBN subject to the provisions of the Rules.

The President shall carry out all his duties always in consistent with the provisions of the Rules, the Resolutions of the General Body Meeting of Registered Members and work under the direction of the Executive Committee of the SIBN, the Patron, and CCOs. The President will plan, and implement activities to fulfil the manifesto laid down by the Constitution under the aforesaid guidelines prescribed and ensure smooth functioning of the SIBN in accordance with its objectives and framework.

Each of the three Vice Presidents shall represent the respective SIBN regional chapters in the National Executive Committee. Normally, the Head of the respective regional chapter will serve as the Vice President on the National Executive Committee. However, for any reason, if the head of any regional chapter is unable to serve on the National Executive Committee, he may nominate any other member of the respective Regional Executive Committee to serve as Vice President on the National Executive Committee, in consultation with the Patron.

The General Secretary shall be responsible for the conduct of all correspondence and office work of the SIBN and submit them to the National Executive Committee at regular intervals; he shall maintain a register of all classes of members attached to the SIBN and their addresses; he shall normally attend all meetings of the committee and shall have the business there at correctly and fully recorded, reported and passed by the National Executive Committee and he shall generally conduct the ordinary business of the SIBN and shall refer to the National Executive Committee any matters of importance requiring urgent decisions.

The Treasurer of the SIBN shall prepare a budget of expenditure for each financial year by end of February and submit it to the National Executive Committee of the SIBN for approval. Subsequently, the budget as approved by the Executive Committee will be presented to the General Body at the annual meeting for their approval during the General Body Meeting. The Treasurer shall be responsible for maintaining proper books of accounts for all sums of money received and expended and the assets and liabilities of the SIBN. Audited Expenditure reports and accounts of the SIBN including balance sheets shall be presented to the Executive Committee for approval at the Annual General Meeting.

The Joint Secretary of SIBN shall be responsible for coordination between the National & regional committees and managing various events under the SIBN activities. The Joint Secretary will handle overall functioning of the network under guidance of the Patron and President.

The National Executive Committee is free to constitute sectoral committees comprising of 2 or more Members to give focused attention to specific areas identified for furtherance of bilateral economic cooperation between India and Saudi Arabia.