RIYADH, 21 Apr. – The Saudi Export-Import Bank (Saudi EXIM) held its first 2022 Board of Directors meeting on Thursday, the 21st of April, in the presence of His Excellency Bandar bin Ibrahim Alkhorayef, the Minister of Industry and Mineral Resources and Chairman of Saudi EXIM.
His Excellency Chairman Alkhorayef and members of the board praised the bank’s accomplishments, giving particular recognition to the results achieved in the first quarter of 2022. They also discussed the bank’s plans for the coming period and its efforts to improve its performance as a purveyor of credit products and services that empower Saudi exporters, expand the presence of Saudi goods and services in global markets, and bolster the Kingdom’s status on the global economic scene.
His Excellency Chairman Alkhorayef also thanked Saudi EXIM’s management for their continued efforts to introduce products and services that meet their clients’ growing needs, making Saudi EXIM the go-to institution for local exporters and foreign importers for credit and credit insurance.
He was also keen to highlight the upper management’s commitment to provide all necessary support to each and every Saudi EXIM business line and department, allowing them to provide the best possible services and maintain the bank’s status as a key driver of Saudi exports and their foreign market demand. These efforts are all in line with the Kingdom’s Vision 2030 objectives for a more vibrant and active Saudi exports market that serves as a key contributor to GDP and overall economic growth.
In its quarterly performance report for Q1 2022, Saudi EXIM revealed that it had approved funding worth more than SAR 2.5 billion, along with over SAR 3 billion in credit insurance for Saudi exporters.
During the same quarter, the bank also signed five Memoranda of Understanding to boost collaboration with national and international financial institutions, broaden the scope of investment across various sectors, bolster Saudi exports, improve export-related products and services, and provide key national economic sectors with a wealth of promising new opportunities.
