Saudi EXIM Bank says national export strategy in final stages, 6 new products to be launched soon

Logo of Saudi EXIM Bank

Saudi Export-Import Bank (Saudi EXIM) said that the national export strategy, which it is developing for the coming years, is in final stages, and is expected to have a significant impact on enabling the export system and supporting exporters.

Six new products will be launched soon, including an export credit insurance policy, guarantee for enhanced letter of credit, buyer's credit insurance, loans for foreign investment, bank guarantee and financial efficiency, Al-Eqtisadiah newspaper reported.

The bank will continue its efforts to partner with local and international entities in the public and private sectors, and work with commercial banks as well as local and global financial institutions to provide integrated financial services to fund the export of national products and enhance their global competitiveness.

According to data available on Argaam, Saudi EXIM Bank announced on Oct. 6, that it has approved 89 financing requests at a total value of SAR 8.95 billion by the end of September.