EXIM Bank will support the growth of Saudi exports; Minister

By Shilpa Annie Joseph, Desk Reporter
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Saudi Arabia’s Minister of Industry and Mineral Resources Mr. Bandar Alkhorayef has stated that the Kingdom’s leading financial agency Saudi Export-Import Bank (EXIM) will support the growth of Saudi exports by providing financial assistance to both exporters and importers.

He further said that the bank provides credit solutions that help the private sector expedite and facilitate export operations, as well as overcome obstacles to this essential activity, to increase non-oil exports’ share of GDP.

Mr. Alkhorayef has made these remarks during the launching function of EXIM’s website. He has also praised the government’s desire to encourage and facilitate non-oil exports, as well as its generous support for the bank’s goals of expanding the national economy and increasing non-oil exports from 16 percent to 50 percent, in line with the Kingdom’s Vision 2030 goals.

Bandar Alkhorayef
Bandar Alkhorayef
Minister of Industry & Mineral Resources
Saudi Arabia

“EXIM, which was launched recently, will continue its efforts to reduce the gaps in financing Saudi exports and to serve various segments of the beneficiaries, such as Saudi exporters and foreigners with industrial or commercial activities in the Kingdom, which helps to provide an appropriate environment for the arrival of the Saudi product to various regional and global markets. It is one of the most important strategic objectives of the bank that it seeks to achieve.”

EXIM’s New Website

Mr. Naif Alshammari, acting CEO of EXIM, has commented that the bank’s website was launched as part of a strategy to establish electronic services that meet the needs of consumers and beneficiaries, as well as the Kingdom’s implementation of digital transformation in all financial and banking transactions.

“The website is built on cutting-edge technology that allows users and beneficiaries to send funding requests quickly and easily, as well as access information and data to help them choose the right financing products and communicate with the bank team,” Mr. Alshammari added.

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