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ADNOC Drilling secures $1.15bn contract

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SIDF and Al Rajhi team up to boost industries growth

By TRENDS Desk
November 19, 2021 10:21 pm
  • The documentary credit service enables investors to obtain the necessary liquidity to implement projects and to speed up project implementation procedures
  • The fund aims at stimulating the growth of national industries through the partnership with the private sector

The Saudi Industrial Development Fund (SIDF) has teamed up with Al Rajhi Bank to provide a documentary credit service.

The documentary credit service enables investors to obtain the necessary liquidity to implement projects and to speed up project implementation procedures by issuing credits with reduced fees.

This happens through the fund’s guarantee to finance documentary credits of its clients with a number of commercial banks.

The fund aims at stimulating the growth of national industries through the partnership with the private sector.

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