Business Economy

SEDA to establish SAR 30 billion EXIM bank

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The lender will work to bridge the gaps in financial services to the sector of importing and exporting.

Thursday 07, February 2019 BY KUDAKWASHE MUZORIWA

The Saudi Exports Development Authority (SEDA) has announced plans to establish an independent export finance bank with a capital of SAR 30 billion to provide local exporters and foreign importers with finances in line with the best international practises in export finances, according to local newswire, Saudi Press Agency.

In a statement, SEDA stated that the bank is expected to open soon.

TAGS : SEDA, export bank

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