Saudi EXIM launches strategy for next 5 years

Saudi Exim Bank CEO Saad bin Abdulaziz Alkhalb

Saudi EXIM Bank announced today, May 16, the launch of its strategic plan for the next five years from 2022 to 2026, which was approved by the board of directors of the National Development Fund.

The strategy was designed with the aim of enabling Saudi non-oil exports to reach global markets by closing financing gaps and reducing export risks, the bank said in a statement.

Furthermore, the strategy focuses on maximizing the economic impact of the bank’s activities, enhancing customer coverage and priority markets, ensuring the provision of a distinctive customer experience and financial sustainability, efficiency and effectiveness of operations, in addition to attracting and developing competencies and making the most of available technologies.

CEO Saad bin Abdulaziz Alkhalb said the bank aims, through its strategy, to maximize the development impact of its activities on the national economy in general, and on Saudi non-oil exports in particular.

He highlighted the plans and initiatives that the bank is working to implement to boost its role as a major player in enabling the private financial sector to contribute to the development of the Kingdom's non-oil exports through various credit solutions, in terms of financing and insurance, in addition to effective partnerships with local, regional and global authorities.

Alkhalb also added that Saudi EXIM is working to provide opportunities for vital sectors to offer highly competitive non-oil products and services, increase the contribution of non-oil exports to non-oil GDP and strengthen the Kingdom's position in global trade.