Saudi Exim, Japanese SMBC Co-ink MoU

The Saudi export and import bank signed a memorandum of understanding with the Japanese Sumitomo Mitsui Banking Corporation (SMBC), aiming to provide more financial solutions, to support trade between exporters and importers, in the Kingdom and Japan, enabling them to carry out export and import operations, in an easy and less risky manner.

The memorandum provides for supporting joint financing projects, developing all financial transactions, providing buyer credit financing, examining opportunities to secure financial guarantees or letters to creditworthy beneficiaries, from Saudi exporters or Japanese buyers, and devising solutions that increase opportunities for financing purchases and implementing projects related to Saudi-Japanese exports.

This cooperation comes within the bank’s continuous efforts to increase the volume of export of national products, through strategic partnerships with local and world financial institutions, through discussing ways to develop the Saudi economy, benefiting from the expertise of the Japanese corporation in the field of finance and credit, and to increase the bank’s financing and credit capabilities, to support Saudi exporters’ drive.