Saudi Export and Import: Agreements with 3 Commercial Banks for 115 Million Dollars
The head of the Saudi Export-Import Bank, Saad Al-Khalab, told Al-Arabiya that deals worth 115 million dollars have been made with three private banks.
Al Khalil said that the bank wants to grow to include countries around the world.
He said that deals worth $55 million have been made between the bank and Jordan Money Bank and Iraqi National Bank.
He said that the bank’s main job is to help companies that export goods and services from Saudi Arabia and to help export supply lines that are affected.
He said that the deals that were signed today are continuations of the deals that were signed before. One of the deals is for $30. Exporters from Saudi Arabia to the Jordanian market will get $1 million from Jordan Capital Bank as part of this deal. The National Bank of Iraq will also get $25 million.
He also said that the bank had signed a document to back Saudi exporters’ documentary credits through the “SABB” bank in Saudi Arabia. The document is worth more than $60 million and will help SABB Bank take on more risks and give exporters more options.
