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 Export Toolkit


International banking transactions

In international trade, banking transactions and relationships between banks in different countries are one of the factors affecting the export and import process. The status and quality of those relationships determine the nature of transactions between local banks (the issuing bank) and foreign banks (the importer bank) and in the absence of banking transactions between banks in Both the exporting country and the importer make it difficult to implement the financial procedures necessary to complete the export process.

To manage and facilitate international banking transactions, banks adopt the relationship of "correspondent banks" between them and banks in other countries. Correspondent banks are a network of foreign banks and financial institutions that the local bank uses or deals with to provide money transfer services, foreign trade financing, documentary credits and other financial services for the benefit of local clients or World Bank activities.

Through the tool "International Banking Transactions" which consists of data on banking relations between Saudi banks and foreign banks in 33 different countries, it allows the exporter to search the country (the target market) or the local bank, or the type of transaction (available operations).