Riyadh-Mubasher: Saudi British Bank (SABB) has signed a SAR 187 million cooperation agreement with the Saudi Fund for Development (SFD), Alriyadh newspaper reported.

The agreement will help the bank expand its activities of offering credit facilities to the Saudi exports, in addition to boosting its ability to enhance the letters of credit received from foreign banks for the Saudi exports.

Ahmed Al-Ghannam, director general of the Saudi Export Programme, said the deal aims to achieve the programme’s goals in cooperation with local banks, adding that the move will encourage the national exports through offering fresh credit facilities to the Saudi exporters.