Improving the Role of Eximbanks/ECAs in the OIC Member States
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Saudi Arabia
Saudi Export Program (SEP)
Name of Entity: Saudi Export Program (SEP)
Status: Program under Saudi Fund for
Development (SFD)
Corporate Form: Other - Program
Year of Establishment:
1999
Capital: USD 8 bn Size of staff: N/A
Financial outturn: N/A Assets: USD 35 billion
Product Offerings
Financing
 Financing for local exporters and local buyers for export purposes
 Financing importers including foreign governments, public or private sector companies
 Pre-shipment financing
Guarantee
 As required by financing banks
Insurance
 Whole Turnover: Coverage on revolving credit limits is granted on a portfolio basis and
is valid for one year with automatic renewal unless one of the parties opts out.
 Specific Transaction: Coverage on credit limit is granted for a single buyer and can
revolve during the period of the policy based on the nature of the transaction. Validity
depends on the transaction period, which may be either short or medium term.
 Documentary Credit insurance for banks
 LC confirmations
Bonding Facilities: None
Advisory and Other Services: None
Islamic Finance Instruments: None
Business Volumes:
2012
USD
Mn
Financing 2,583
Guarantees 785
Insurance 4,258
Source: Annual Report 2012
Top Exports / Export Markets:
Products Exported (2013)
HS
Code Description
Value (USD
Mn) %
27 Oil & Gas 309,078 87.7%
28-38 Chemicals 19,515 5.5%
39-40
Plastic /
Rubber 17,166 4.9%
Others 6,806 1.9%
Total 352,565 100.0%
Source: UN Comtrade
Top 3 Destinations (2013)
Order Country
Value (USD
Mn) %
1 China 53,451 15.2%
2 USA 53,098 15.1%
3 Japan 49,856 14.1%
Others 196,160 55.6%
Total 352,565 100.0%
Source: UNComtrade