Under the aegis of the International Islamic Trade Finance Corporation (ITFC), the leading export organizations of Saudi Arabia have come together and signed a tripartite export agreement that will benefit the Shariah-compliant small and medium enterprises in the country. In addition to assisting SMEs in accessing finance and new markets, the MoU signed by the ITFC with Monsha’at and Saudi Exim Bank also envisages providing other services like capacity building, expertise, training and advisory support. The preliminary deal signed on April 19 is part of the 2030 vision to support the diversification of exports from the non-oil sector and apply to all the Shariah-compatible industries.
