Enhancing the Flow of Saudi Non-Oil Exports to Pakistan
The Saudi Export-Import Bank (Saudi EXIM) signed a $15 million credit line agreement with Bank Alfalah Limited in Pakistan to bolster the flow and competitiveness of Saudi non-oil exports in the Pakistani market.
The agreement was signed by Eng. Abdullatif Alghaith, Director General of Lending Department at Saudi EXIM Bank, alongside Mr. Faisal Rashid, Head – Financial Institutions, International Business & Home Remittance, and Mr. Zeeshan Ahmed Mirza, Head – Correspondent Banking Financial Institutions from Bank Alfalah. The signing took place at Saudi EXIM Bank in Riyadh.
Commenting on the signing, Eng. Abdullatif Alghaith stated: "This agreement reflects Saudi EXIM's commitment to enhancing strategic collaborations with international financial institutions. It provides tailored financing solutions to empower Saudi non-oil exports and enhance their global competitiveness. By encouraging Pakistani importers to engage with Saudi exporters, we aim to unlock new trade opportunities between the two countries and drive impactful growth in bilateral trade and investment."
Additionally, Mr. Farooq Ahmed Khan, Group Head - Corporate, Investment Banking and International Business stated: "The partnership between Bank Alfalah Limited and Saudi EXIM Bank is a milestone in strengthening the trade ties between Pakistan and Saudi Arabia. The credit line will not only enable Pakistani businesses to access high-quality products in Saudi Arabia but also foster mutual economic growth. Bank Alfalah is proud to play a pivotal role in promoting trade and investment opportunities that align with the shared vision of economic progress in both countries."
