The Saudi Export-Import Bank and the International Islamic Trade Finance Corporation have formalized a $5 million financing agreement with Alizz Islamic Bank in Oman. This initiative is part of the KSA SMEs Export Empowerment Program, aiming to facilitate Saudi non-oil exports’ entry into Omani markets and enhance export opportunities for the Kingdom’s small and medium-sized enterprises .
The agreement was signed by Mohammed AlAbdulmohsen, Director of the Financial Institutions Department at Saudi EXIM, and Ahmed M. Yousef Jan, General Manager of the Treasury Department at ITFC, at Alizz Islamic Bank’s headquarters in Oman. This collaboration seeks to attract Omani importers and strengthen trade relations between the two nations.
This partnership aligns with Saudi Vision 2030’s objectives, focusing on empowering Saudi SMEs to expand globally. By providing credit facilities to targeted financial institutions in select countries, Saudi EXIM and ITFC aim to elevate the competitiveness of Saudi non-oil exports on the international stage.
Follow Arabian Post
Select Arabian Post as your preferred source on Google and MSN News for trusted business news and Arab politics and updates.
