The Saudi Exports Development Authority (SEDA) has unveiled an initiative to establish an independent export finance bank with a capital of SR30 billion to provide local exporters and foreign importers with finances in line with the best international practices in export finances. The SEDA said that the bank will work to bridge the gaps in financial services to the sector of importing and exporting, expecting that the bank's services may start soon. This came during the open meeting of the exporters with SEDA Secretary General Engineer Saleh Al-Solami organized yesterday by Riyadh Chamber of Commerce and Industry to discuss the issues and challenges being faced by the exporter sector.
