Jan 24 2012 |
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Banque Saudi Fransi inks major deal
The Saudi Fund for Development of the Saudi Export Program has signed a cooperation agreement with Banque Saudi Fransi . The fund provides guarantees for the export of Saudi national products valued at more than SR553 million.Under this cooperation agreement, the bank is referred to carry out all banking operations related to the financing of Saudi exports, including promotion of letters of credit received from foreign banks for the benefit of Saudi exporters, as well as to provide pre- and post- shipment finance linked to the Saudi Export Program.
The fund's Vice Chairman and Managing Director Yousef bin Ibrahim Al-Bassam and Banque Saudi Fransi Deputy Managing Director Abdulrahman Jawa signed the deal.
Abdulrahman Jawa said the bank has extensive experience in global markets through its large network of financial institutions both international and local, which extends to more than 500 foreign banks to serve corporate clients and retailers.
© Arab News 2012
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