When Roche established a sales affiliate in Saudi Arabia, the company faced regulatory uncertainty. Working closely with BNP Paribas and engaging extensively with the Saudi regulator, Roche demonstrated how it is possible to operate legally, technically, and operationally.

The implemented structure created a cross-border zero-balancing cash pool that transfers excess funds from the Saudi entity to a regional master account in Bahrain. This arrangement enables Roche to optimise the use of liquidity, reduce idle cash balances, and increase automation within its treasury operations. In addition, linking the Saudi accounts to Roche’s global SWIFT framework improved payment processing efficiency and aligned the local setup with the company’s global treasury model. The project also set an important precedent that may facilitate similar cash pooling solutions for other multinational companies operating in Saudi Arabia. 

Franca Aeby, Senior Cash Manager, Roche:

"We can now make much better use of the liquidity. We don’t have any excess liquidity lying around in Saudi Arabia, it’s pulled out and we keep a minimal balance. This enables us to use those funds in another currency or for another country, if necessary, or for other purposes. That’s one of the most efficient outcomes, but it also helps with automation as we’ve been able to reduce the manual workload.”

Read the entire Treasury Management International article in the pdf below: