Beth: His Excellency, the CEO of the Saudi Export-Import Bank, Eng. Saad bin Abdulaziz Al-Khalb, announced the approval of more than 81 financing requests worth 9 billion riyals for more than 46 countries around the year.

This came during his meeting today with a number of business owners, in the presence of the President of the Federation of Saudi Chambers, Ajlan bin Abdulaziz Al-Ajlan.

The meeting witnessed the launch of the Saudi Export-Import Bank and the Federation of Saudi Chambers “Exporters Financing Round”, in a move aimed at introducing the bank’s products and services aimed at financing the export of Saudi non-oil products and enhancing its presence in global markets, as part of the bank’s endeavor to be a major contributor to raising the rate of the economy. The Kingdom's non-oil.

Eng. Al-Khalb extended his thanks and appreciation to the wise leadership, which pays great attention to supporting the development and industry systems in the Kingdom, and to take them to advanced levels that respond to the requirements of the current stage. His Excellency also extended his heartfelt thanks to the Federation of Saudi Chambers, and to all businessmen and women who contributed to the success of this approach.

Al-Khalb explained that the meeting comes to activate the constructive partnership between the Saudi Export-Import Bank and the Federation of Saudi Chambers in order to provide the bank's services and products to Saudi exporters, through which the bank seeks to bridge financing gaps and reduce the risks of exporting Saudi products to the world. In implementation of the directives of the wise leadership - may God protect him - towards reducing dependence on oil, diversifying the resources of the national economy, and achieving the goals of the Saudi Vision 2030, which aims to raise the percentage of Saudi non-oil products exports to 50% of the percentage of non-oil GDP.

For his part, the President of the Federation of Saudi Chambers, Ajlan Al-Ajlan, praised the support enjoyed by the private sector, the wise leadership, since the launch of the Kingdom’s Vision 2030, praising the initiatives and government support for the sector through the launch of many supportive agencies, programs and initiatives, including the Saudi Export and Import Bank, which we look forward to contributing to support Saudi producers to export their products to global markets.

Al-Ajlan expressed his happiness to cooperate with the Saudi Export and Import Bank in order to support the bank’s efforts in exporting non-oil products and providing financing and credit solutions that increase the competitiveness of the Saudi product and open the way for more local and foreign investment opportunities, as the Federation of Chambers is working to develop its strategies in line with the course of National vision.

In addition, a memorandum of understanding was signed between the Federation of Saudi Chambers and the Saudi Export-Import Bank aimed at enabling exporters and importers to obtain financial and advisory services provided by the Bank, as part of joint efforts to enhance Saudi non-oil exports to achieve the aspirations of the Kingdom's Vision 2030. 

These endeavors come in line with the Kingdom’s efforts to diversify the national economy and support the export of Saudi products, driven by the roles played by the Saudi Export-Import Bank, which works to promote the development and diversification of Saudi exports and increase their competitiveness by providing financing services for Saudi non-oil exports, while the Union of Chambers represents Saudi Arabia is the main umbrella for the Saudi private sector and chambers of commerce and works to support economic development efforts, including promoting Saudi exports to foreign markets.

The scope of cooperation between the two sides, in accordance with the terms of the memorandum of understanding, includes working to provide financial and advisory services to exporters and importers, and introducing the services and products provided by the bank through holding workshops in chambers of commerce, communicating with factories and investors, and explaining the facilities provided by the bank and the procedures necessary to obtain financing and various services.

It is expected that this memorandum will contribute to enhancing Saudi non-oil exports, increasing financing opportunities for exporters and importers, and enabling the Bank to reach faster target customers in various regions of the Kingdom.