Saudi Export Program


Logo SEP

The Saudi Export Program (SEP) was established in 1420 H / 1999 G within the Saudi Fund for Development, to promote the export sector in Saudi Arabia and assist in diversifying the national economic base leading to a greater contribution to the gross domestic product and minimizing dependence of the economy on a single commodity, “crude oil”.

 

Objectives

  • Provide competitive insurance and credit facilities to Saudi Exporters and foreign buyers.
  • Motivate Saudi exporters to explore and enter new markets by mitigating risks associated with International trade transactions.
  • Maximize technical cooperation, joint financing and reinsurance arrangements with most international and regional banks/Institution involved in Trade Financing.

Basic requirements of SEP operations

  • SEP’s participation my reach up to 100% of transaction value based on the risks involved and exposure limits.
  • Minimum Transaction amount is SR 100,000
  • Local value added should be more than 25%.
  • Exports should be of Saudi origin.

Moreover, SEP

  • does not support exports of crude oil,
  • offers financial facilities in Saudi Riyals or United States Dollars,
  • complements commercial banks and does not with them.

Beneficiaries

  • Saudi exporters (Saudi companies and establishments).
  • Local buyers (Saudi companies and establishments) exporting Saudi products,
  • Foreign companies manufacturing and exporting from Saudi Arabia.
  • Foreign private or public buyers of Saudi goods and services.
  • Local and Foreign Banks/Financial Institutions that provide financing facilities for eligible Saudi exports.

The Saudi Export Program is fully owned by the government of Saudi Arabia.

For more information please consult:  http://www.sep.gov.sa.