New Saudi export bank to launch finance services in October
KSA’s news export bank will offer direct and indirect finance as well as export credit services as of October 2019, according to the Saudi Export Development Authority (SEDA) which told Al-Eqtisadiah newspaper on Wednesday. “We are working with the competent government authorities on completing the regulatory procedures required for setting up the bank,” SEDA said. The new entity will offer financial, non-financial and credit services to the export and import sector, with a special focus on boosting the Kingdom’s non-oil exports, the authority added.
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