Budapest 07 Rabi’ al-Awwal 1443 AH corresponding to October 13, 2021 AD
The Saudi Export-Import Bank has announced that it has joined the Berne Union, the leading global insurance organization for global export and investment operations.
The Bank’s joining the Federation constitutes a milestone with regard to its pivotal role in enhancing the competitiveness of the export of Saudi products and services, and highlights the growing capabilities and opportunities available in the Saudi trade sector.
The Bank’s accession to the Union provides a unique platform for building partnerships with leading institutions to confront problems related to the export credit sector, and is consistent with the Bank’s goal of developing the export of national products through partnerships with national and international financing institutions and organizations.
His Excellency the CEO of the Saudi Export-Import Bank, Eng. Saad bin Abdulaziz Al-Khalb, expressed his pleasure at the bank joining the Berne Union, during the first year of the bank’s establishment, saying: “Our presence within this union highlights our rapid growth, our building of expertise and the capabilities to take risks, allowing us to contribute In developing the export of Saudi products and enabling them to expand into new markets, we will continue our commitment to contribute to achieving the goals of Saudi Vision 2030 by increasing the share of Saudi Arabia’s non-oil exports in non-oil GDP to 50%.”
It is noteworthy that the Berne Union was established in 1934 and is headquartered in the British capital London, and represents 81 members from 66 countries, including official government export credit agencies, private export insurance companies, and multinational institutions. The Federation works closely with international trade organizations to encourage the adoption of best practices in the field of export credit insurance and to cooperate in order to maintain the stability of global trade.
Since its establishment, the Saudi Export-Import Bank has been working according to an ambitious vision to be a leading financial institution that supports the private sector and enables Saudi banks to provide financial and credit solutions that increase the export quotas of Saudi non-oil products and services, and directly contribute to diversifying the alternative economy, as one of the objectives of the Kingdom’s Vision 2030 and its aspirations to build an economy Strong and sustainable development.
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