The International Islamic Trade Finance Corporation and the Saudi Export-Import Bank (Saudi EXIM Bank) Sign an Implementation Agreement for a Line of Financing of USD 25 million in favor of Bank Al Habib Limited in Pakistan under the umbrella of “KSA SMEs Export Empowerment Program”

The International Islamic Trade Finance Corporation and the Saudi Export-Import Bank (Saudi EXIM Bank) Sign an Implementation Agreement for a Line of Financing of USD 25 million in favor of Bank Al Habib Limited in Pakistan under the umbrella of “KSA SMEs Export Empowerment Program”

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org) and the Saudi Export-Import Bank (Saudi EXIM Bank) have signed an Implementation Agreement for a Line of Financing of USD 25 million in favor of Bank Al Habib Limited in the Islamic Republic of Pakistan. This agreement is strategically designed to catalyse export opportunities and enable small and medium enterprises (SMEs) sector in the Kingdom of Saudi Arabia, facilitating exports of non-oil products to the Pakistani market.

Under the “KSA SMEs Export Empowerment” Program, this collaborative effort aims to broaden export horizons for Saudi SMEs, fostering increased participation and attracting new importers of Saudi goods in Pakistan. The ITFC and Saudi EXIM Bank, committed to elevating the competitiveness of Saudi non-oil exports globally, provide credit facilities to targeted financial institutions. ITFC also collaborates with The Small and Medium Enterprises General Authority "Monsha’at" within the framework of the Program in organizing business matching opportunities for Saudi enterprises with potential partners in several countries and in various sectors such as the pharmacy sector, food industries, and others.

The signing ceremony, held at the ITFC headquarters in Jeddah, took place under the auspices of H.E Dr. Mohammad Al-Jasser, Chairman of the Islamic Development Bank (IsDB) Group. The