In conversation with
Saad bin Abdulaziz AlKhalb
CEO of Saudi EXIM

The Saudi Export-Import Bank (Saudi EXIM) is just three years old, but already, it has a startlingly mature good news story to tell. Last year, it helped Saudi non-oil exports reach more than 60 countries around the globe, nearly one-third of the United Nations’ member states. They included the US, UK, China, Sweden, India, France and Pakistan, as well as several African and South American nations.

This year, Saudi EXIM continued expanding by providing funding lines for regional and international commercial banks and signing MoUs with key institutional entities in the region and further afield, not least Iraq, Bahrain, Turkey, China, Japan, Korea, Italy and Nigeria. The bank is also focusing on Africa with plans for its first international representations to be based in the continent.

Meanwhile, Saudi EXIM launched a five-year strategic plan that provides a viable roadmap to 2026. A primary objective of this strategy is the empowerment of the Saudi non-oil economy in international markets through financing and risk mitigation, economic diversification and sustainability efforts. 

This has seen Saudi EXIM double down on its commitment to supporting local exporters, bolstered by a number of new partnerships with leading global financial institutions. These collaborations have allowed the bank to expand its range of credit solutions, bridge credit gaps and further empower the private sector’s involvement in the non-oil export industry. Furthermore, the bank is a proud member of several international unions dedicated to supporting exporter activities through indirect financing. 

Saudi EXIM’s offerings include a line of financing products, such as domestic and international lines of credit, working capital financing and structured financing for international products. Demand for the bank’s insurance and indirect financing solutions has experienced year-on-year increases. The competitive advantages these products provide have allowed a growing number of local exporters to confidently explore new markets. 

Our primary objective is that no cross-border export transaction from Saudi Arabia fails due to a lack of insurance or financing

As CEO Saad bin Abdulaziz AlKhalb puts it: “Saudi EXIM employs all its capabilities to raise the contribution of non-oil exports to 50 per cent of the non-oil GDP. Saudi EXIM has focused on consistently creating and capitalising on various opportunities to better serve its strategic goals and mission. This includes extending necessary financial support to exporters.” 

This has been a year of growth, consolidation and activity for the bank across multiple fronts. A primary focus has been the SME sector, given its importance to the global economy and, more specifically, the potential impact export financing can have on long-term SME growth. 

In the first six months of this year, Saudi EXIM committed and approved SR12bn in total facilities, of which over SR6bn is committed for insurance ceilings and over SR5bn is approved for financing requests.

Saudi EXIM has progressively expanded into the medium- to long-term arena, with a keen anticipation for the upcoming projects in its pipeline. These projects offer substantial opportunities for local exports, encompassing both large and small enterprises, to participate in international projects, thus unlocking avenues for growth.

As CEO AlKhalb notes: “Our primary objective is that no cross-border export transaction from Saudi Arabia fails due to a lack of insurance or financing.” 

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