ASMO and J.P. Morgan Partner on Supply Chain Finance Solutions

ASMO, the joint venture between Saudi Aramco Development Company and DHL, signed a memorandum of understanding ( the “MoU”) with J.P. Morgan during the Supply Chain and Logistics Conference in Riyadh to explore working capital and supply chain financing solutions that enhance liquidity, improve access to capital, and strengthen end-to-end supply chain performance.

The MoU sets the framework for both parties to assess financing structures that support ASMO’s procurement, logistics, and inventory operations. It also defines the guiding principles for potential future agreements and solution deployment. As part of the collaboration, services will be provided by J.P. Morgan Payments with the focus on developing off-balance sheet inventory finance tools to help enable ASMO’s customers in Saudi Arabia to free up critical working capital through innovative structures. In addition, the parties will seek to address a broader range of trade finance options for ASMO’s customers, including payables finance, receivables finance, and other on-balance sheet solutions. These models will be designed with the aim to accelerate supplier payments, extend buyer terms, provide flexible funding, and enable faster, digitally connected transactions, further strengthening ASMO’s commitment to building efficient and resilient supply chains.

“Access to efficient, reliable financing is a critical enabler of supply chain transformation," said Saad Al-Hajri, Chief Procurement Officer at ASMO. "This collaboration lays the groundwork for solutions that reinforce national objectives, improve liquidity for suppliers, and support the operational scale ASMO is building across key industrial sectors."

James Fraser, Global Head of Trade & Working Capital at J.P. Morgan, said, “We are proud to support ASMO by bringing our global expertise in working capital and digital trade solutions to this strategic collaboration.”

This collaboration supports the goals of Saudi Vision 2030 by advancing digital financial infrastructure, expanding access to flexible capital, and reinforcing the foundations of industrial growth across the Kingdom.