JEDDAH, 6 Feb. – The Saudi Export-Import Bank (Saudi EXIM) on Sunday inaugurated its Makkah Province representation office located within the Jeddah Chamber of Commerce and Industry (JCCI.)
The new office is an extension of Saudi EXIM’s strategy to establish a nationwide presence and enable Saudi exporters to obtain the bank’s trade financing and insurance products in a convenient manner.
The office was inaugurated by His Excellency Eng. Saad bin Abdulaziz Alkhalb, the Chief Executive Officer of Saudi EXIM, along with Chairman of the JCCI Mohammed bin Yousuf Naghi and officials from both sides.
The new office’s first order of business was the signing of an export credit insurance document to the benefit of The Obeikan Glass Company to cover its exports and enhance its global competitiveness. Obeikan was represented during the signing by Fayez bin Jamil Abdul Razzaq, the company’s CEO.
The new office, Saudi EXIM stated, aims to broaden its operational scope, given the increasing demand for the bank’s products from local financial institutions and exporters in the Industrial Valley and the Western Region. Two of the Kingdom’s key outlets, Jeddah Islamic Port and King Abdullah Port at King Abdullah Economic City, are located within the key Saudi region.
The office will also offer comprehensive solutions and convenient integration with the JCCI and other agencies for better efficiency in key sectors, seamless business services, and more diverse investments in emerging sectors.
Since its establishment in 2020 with a capital of SAR30 billion, Saudi EXIM has recognized the importance of being in proximity to its clients and partners to offer the services and solutions required. The bank is keen on providing the right resources clients need to boost their non-petroleum exports, enhance their competitive edge in foreign markets, and invigorate emerging sectors and their contribution to the growth of the alternative economy. These goals are all part of the Kingdom’s Vision 2030 objective of increasing the country’s non-petroleum exports and facilitating their contribution to the gross domestic product (GDP.)
