RIYADH: Saudi Minister of Industry and Mineral Resources and CEO of the Saudi Export Import Bank (EXIM) Bandar Al-Khorayef on Tuesday witnessed the signing of a cooperation agreement between EXIM and Bank AlJazira in the presence of Tarek Othman Al-Kasabi, chairman of Bank AlJazira’s board of directors.

The deal, signed by Dr. Naif Al-Shammari, Saudi EXIM’s acting CEO, and Naif Al-Abdulkareem, CEO of Bank AlJazira, aims to boost the role of commercial banks in financing exports with the help of EXIM’s financial services solutions in cooperation with banks and financial institutions.

Al-Shammari said the agreement was part of the bank’s efforts to develop Saudi exports by offering a comprehensive package of finance and credit solutions covering all stages of the exports process in the Kingdom.

He pointed out that the pilot launch of the bank had seen a number of credit solutions being offered to ensure the availability of Saudi products in foreign markets while maintaining regional and international competitiveness, and added that more products such as guarantees and export credit insurance were in the pipeline.

Copyright: Arab News © 2020 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.