In pursuit of better servicing our client, base across the region, and more importantly, in Iraq and Saudi Arabia, we are proud to announce our newly established operations in Saudi Arabia. This effort facilitates trade between the two countries in response to the export growth. This allows the Bank to expand the scope of services provided in the corporate sector across Jordan, Iraq, UAE, and now Saudi Arabia by providing them with commercial solutions and banking services that help them go farther, faster.
This allows the National Bank of Iraq to increase its share of the total commercial transactions between Saudi Arabia and Iraq, providing services to strategic corporate clients and facilitating their commercial transactions. The Bank will also be able to tap into new unserved sectors in the Saudi trade market.
The Bank has also signed essential agreements to finance trade between Iraq and Saudi Arabia, most importantly, the financing agreement signed with the Saudi Fund for Development SFD, in which the Saudi fund has granted credit ceilings through which financial facilities are given to Iraqi investors wishing to import products and services from Saudi companies. The National Bank of Iraq and Capital Bank also signed a credit ceiling agreement with the Saudi Exim Bank to support importers of Saudi goods and products in Jordan and Iraq.
Services and financing solutions provided by the Bank’s branch in the Kingdom of Saudi Arabia:
• Inward and outward remittance services
• Import and export letters of credit
• Issuance of letters of guarantee
• Short term direct credit facilities
• Corporate fixed deposit accounts
For more information, please call +966-561190970 or send an email to [email protected]