Saudi Arabia's oldest bank has opened its second trade services window (TSW), which aims to make it easier for corporates and small- and medium-sized enterprises to access trade services, including letters of credit (L/Cs) and bank guarantees.

Saudi Hollandi Bank says it plans to open more TSWs, which the bank says will support the country's growing economy and meet the high demand for trade finance and services from corporates and small businesses.

Trade services

The new TSW opened on 25 September at the Al-Hafouf Branch in Al-Ahsa City in Saudi Arabia's Eastern Province.

As well as L/Cs and bank guarantees, the TSW provides documentary collections and offers consultancy and trade finance advice.

More to come

The first TSW commenced operations in the Balad district of Jeddah in April of this year.

Saudi Hollandi says it has already noticed a "positive response" to the opening of its first TSW in its first six months trading.

According to the head of Saudi Hollandi's transaction banking group, Zaki Jawad, the bank's two TSWs "will be the first of many" and will exist alongside its established regional trade services units.

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