Saudi Export-Import Bank (Saudi EXIM) and The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org) have signed an Implementation Agreement for $5 million line of financing in favor of Alizz Islamic Bank in the Sultanate of Oman, under the “KSA SMEs Export Empowerment Program”.
The agreement aims to enhance the access of Saudi non-oil exports to Omani markets, promote export opportunities for the SMEs sector in the Kingdom, and attract Omani importers.
The agreement was signed by the Director of the Financial Institutions Department at Saudi EXIM Bank Mr. Mohammed Alabdulmuhsen, and the General Manager of the Treasury Department Mr. Ahmed M. Yousef Jan from The International Islamic Trade Finance Corporation. The signing ceremony took place at Alizz Islamic Bank’s headquarters in the Sultanate of Oman.
“KSA SMEs Export Empowerment Program” is committed to elevate the competitiveness of the Saudi non-oil exports globally, as Saudi EXIM and ITFC continues to provide credit facilities to targeted financial institutions in targeted countries.
This collaboration marks a significant step towards enhancing international trade and increasing the contribution of SMEs to the Gross Domestic Product, aligning with the objectives of the Kingdom’s Vision 2030, which represents one of the objectives of the “KSA SMEs Export Empowerment Program”. It also represents a crucial milestone in enabling Saudi exports and expand their global reach.
Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).
Contact Saudi EXIM Bank:
Email: info@saudiexim.gov.sa
Contact International Islamic Trade Finance Corporation (ITFC):
Tel: +966 12 646 8337
Fax: +966 12 637 1064
E-mail: ITFC@itfc-idb.org
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Saudi EXIM Bank:
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Website: https://SaudiEXIM.gov.sa
International Islamic Trade Finance Corporation (ITFC):
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About Saudi Export-Import Bank:
Saudi EXIM was established to support Vision 2030 by driving the growth and diversification of Saudi non-oil exports. Through advanced financing, guarantees, and export credit insurance, the bank strengthens confidence in Saudi-made products across global markets. It operates as a key developmental arm of the National Development Fund.
About the International Islamic Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC), part of the Islamic Development Bank Group, was established in 2008 to boost trade among OIC member countries. It has provided over $80 billion in trade financing, enhancing trade capabilities and facilitating access to global markets. ITFC aims to be a catalyst for trade development, offering financial solutions and capacity-building tools to help member countries compete effectively in international trade.