Jan 24 2012 |
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Accord on export of Saudi products inked
Riyadh -- The Saudi Fund for Development of the Saudi Export Program has signed a cooperation agreement with Banque Saudi Fransi for the export of Saudi national products valued at more than (553) million SAR, here Sunday.
Under the agreement, the bank will supervise transactions 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 related to the Saudi Export Program.
The agreement was signed by the Vice Chairman and Managing Director Eng. Yousef Bin Ibrahim Al-Bassam and on behalf of Banque Saudi Fransi Deputy Managing Director, Mr. Abdulrahman Jawa.
The two agreed to promote exports and national development through the provision of new credit facilities to various sources in Saudi Arabia to achieve the Saudi Export Program's objectives.
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