Financial Institution Banking
Among all ME banks, SNB has maintained the dominant position in international banking as represented by the bank's long-standing correspondent banking relationship with over 900 international banks worldwide.
Its mandate is to open, develop, manage and monitor all Nostro/Vostro account arrangements and reciprocity; review and update SNB's schedule of tariffs, pricing and terms and conditions; compile and disseminate L/C exchange information, control and monitor SNB's overseas Representative Offices [Singapore, Korea, and China] attend to all international operations issues addressed by correspondent banks, domestic divisions and customers; develop a comprehensive global country limit review procedure and establish country limits; recommend appropriate credit limits in addition to the following:
Manage a network of correspondents providing
services for outward business generated by the domestic customers of SNB. It seeks to provide the highest quality service at the best price
Provide cash management services and processing
inward payments received from correspondent banks overseas, through opening and
managing other financial institutions accounts with SNB
Advise, confirm and discount Letters of Credit
in favor of Saudi exporters on behalf of partner banks
Provide project-related guarantees in favor of Saudi beneficiaries in coordination with partner banks and bond applicants. .
Develop cross border lending opportunities
including oil import post shipment finance where these are within strategic
Ensure considerate compliance of KYC/AML for all relationships.
Saudi National Bank Financial Institutions Department,SNB Tahlia, Prince
Mohd Bin Abdulaziz Street (Previously Tahlia Street).
Address: PO Box 3555, Jeddah 21481, KSA
(966) 12 610 7091 & (966) 12 -610 7081
(966) 12 263 0061