Saudi EXIM Signs Cooperation Agreement with Alinma Bank

The Saudi Export-Import Bank (Saudi EXIM) signed a cooperation agreement with Alinma Bank to issue bank guarantees that support local SMEs in securing the financing needed to complete and expand their export operations.
Under the agreement, Saudi EXIM will allocate a SAR500 million credit facility to Alinma Bank, guaranteeing up to 80% of the financing provided to SMEs, with a maximum guarantee of SAR50 million per enterprise—enabling Saudi products and services to reach diverse international markets worldwide.
The agreement was signed by Saudi EXIM CEO Eng. Saad Alkhalb and Alinma Bank Managing Director and CEO Abdullah Al-Khalifa, at Alinma Bank's headquarters in Riyadh.
Eng. Alkhalb stated, “This agreement with Alinma Bank is in line with our ongoing efforts to empower SMEs exports and enhance their global competitiveness by providing innovative credit solutions and guarantee instruments. This aligns with the objectives of Saudi Vision 2030, which aims to increase the contribution of the non-oil sector to the national economy.”
Al-Khalifa stated, “This partnership with Saudi EXIM contributes to supporting and empowering SMEs and enhancing their export capabilities by providing access to banking solutions that strengthen the competitiveness of Saudi products and services in global markets. This is in line with our continued commitment to supporting the objectives of Saudi Vision 2030, empowering the SME sector, increasing its contribution to national economic development, and enhancing the role of the banking sector in supporting Saudi non-oil exports.”
This agreement represents one of several initiatives implemented by Saudi EXIM to strengthen partnerships with the private sector in support of SMEs and to enhance their export capacity. It will also contribute to increasing the banking sector’s participation in financing export operations and providing diversified financing options for local exporters.
This agreement comes as an extension of a series of strategic partnerships signed by Saudi EXIM with the banking sector, including previous agreements with Arab National Bank (anb), Banque Saudi Fransi (BSF), and Riyad Bank. These efforts form part of the bank’s ongoing commitment to enabling the expansion of Saudi non-oil exports, enhancing their global competitiveness, and supporting the objectives of Saudi Vision 2030 toward diversifying the national economy.

-- SPA