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. This global banking partnership has been managed by the Financial Institutions Department (FID), which is a core department of the Treasury Group.
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 & 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:
Managing
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.
Providing cash management services and processing inward payments received from correspondent banks overseas, through opening and managing other financial institutions accounts with SNB.
Advises, confirms and discounts Letters of Credit in favor of Saudi exporters on behalf of partner banks.
Provides project-related guarantees in favor of Saudi beneficiaries in coordination with partner banks and bond applicants.
Develops cross border lending opportunities including oil import post shipment finance where these are within strategic goals.
Advising and confirming Letters of Credit in favor of Saudi exporters on behalf of foreign banks.
Ensuring considerate compliance of KYC/AML for all relationships.
CONTACT US
The
Saudi National Bank Financial Institutions Department,SNB Tahlia, Prince
Mohd Bin Abdulaziz Street (Previously Tahlia Street).
Address: |
Address: PO Box 3555, Jeddah 21481, KSA |
Phone: |
(966) 12 610 7091 & (966) 12 -610 7081 |
Fax: |
(966) 12 263 0061 |
