Keynote – Boosting the private sector and growing non-oil exports

Events / 12-10-21 / Share Link

Following its approval in February 2020, Saudi EXIM Bank has approved nearly US$2.13bn in lending to non-oil exporters, with many further applications in the process from a wide range of potential corporate beneficiaries. Meanwhile, a new framework agreement signed with the International Islamic Trade Finance Corporation (ITFC) to provide financing, insurance and guarantee services to the bank’s clients aims to further strengthen its role in stimulating the private sector, as well as supporting and developing companies engaged in exports in Saudi Arabia.

Hicham El Khaoudy (Managing Director & Head of Global Transaction Banking MEA, First Abu Dhabi Bank (FAB) interviewed HE Eng. Saad Abdulaziz AlKhalb (Chief Executive Officer, Saudi EXIM Bank) and HE Eng. Hani Salem Sonbol (Chief Executive Officer, International Islamic Trade Finance Corporation (ITFC) about the global economic recovery and assessing the current suite of products available to assist a wide demographic of companies across a range of sectors. The conversation also focused on relationships with both local and international and how increased partnerships and collaboration can boost trade (and non-oil trade in particular), whilst offering a strategic vision for future growth.