Saudi Exim Bank Signs Framework Agreement with ITFC Promoting the Private Sector and Non-Oil Exports

Saad Abdulaziz AlKhalb, Chief Executive Officer (CEO) of the Saudi Export-Import Bank (Saudi EXIM Bank), and Hani Salem Sonbol, CEO of the International Islamic Trade Finance Corporation (ITFC) signed a new framework agreement to boost the private sector and promote exporting companies in Saudi Arabia.

Why it Matters?

The agreement will contribute towards the Government of Saudi Arabia’s efforts in developing the export sector, banks and other financial institutions in the country. This will be via increased assistance to Saudi Arabia-based exporters and international buyers of Saudi Arabia’s non-oil exports through the provision of financing and insurance products, as well as guarantee services on Saudi Arabian goods and services to cust...