Saudi Export-Import Bank (Saudi EXIM) has signed a memorandum of understanding with the United Kingdom’s national export credit agency, UK Export Finance (UKEF), to establish reinsurance arrangements aimed at supporting Saudi exporters’ access to capital goods and raw materials from the UK.
According to a statement issued by Saudi EXIM, the agreement aligns with the bank’s strategy to strengthen cooperation with international export credit agencies, ensure a sustainable supply of essential inputs, and enhance the efficiency of export operations for Saudi enterprises.
The MoU was signed by Saudi EXIM CEO Eng. Saad AlKhalb and UKEF CEO Tim Reid.
Commenting on the agreement, Eng. AlKhalb said the memorandum underscores the bank’s commitment to building high-impact institutional partnerships with global export credit agencies. He also noted that the collaboration will expand reinsurance solutions and improve credit risk management across supply chains, adding that the partnership with UKEF supports Saudi EXIM’s ongoing efforts to enable national companies to secure reliable production inputs and sustain their export activities across multiple sectors with greater confidence.
The statement added that Saudi EXIM continues to strengthen its role in promoting Saudi non-oil exports while expanding its international partnerships, in line with Vision 2030 objectives to diversify the national economy and enhance the Kingdom’s global trade presence.
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