The Saudi Export-Import Bank (Saudi EXIM) has secured a $15 million credit line agreement with Bank Alfalah Limited in Pakistan to boost the flow and competitiveness of Saudi non-oil exports in the Pakistani market.
The agreement was signed by the Director General of the Lending Department at Saudi EXIM Bank Eng. Abdullatif Alghaith, Head of Financial Institutions, International Business, and Home Remittance Faisal Rashid, and Head of Correspondent Banking Financial Institutions from Bank Alfalah Zeeshan Ahmed Mirza. The signing ceremony took place at Saudi EXIM Bank’s headquarters in Riyadh.
Commenting on the agreement, Eng. Abdullatif Alghaith said that, “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 trade and investment.”
Group Head of Corporate, Investment Banking, and International Business at Bank Alfalah Farooq Ahmed Khan, noted that, “The partnership between Bank Alfalah Limited and Saudi EXIM Bank is a milestone in strengthening trade ties between Pakistan and Saudi Arabia. The credit line will not only enable Pakistani businesses to access high-quality products from 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.”
The Saudi Export-Import Bank, a vital development institution under the National Development Fund (NDF), is focused on diversifying the Kingdom’s economic base. Through innovative financing and insurance solutions, the bank plays a key role in expanding the global reach of Saudi non-oil exports, supporting the goals of Saudi Vision 2030.
