The program is dedicated for financing importation of consumer commodities, food stuff, industrial raw materials, engineering spare parts, capital commodities and any other Saudi origin commodities/services to be agreed upon, having not less than 25% local value added.
Traders in Jordan for import/purchase of commodities/ services from the Kingdom of Saudi Arabia.
Interest rate to be applied and paid shall be determined by the bank, in addition to variable interest rate equivalent to the LIBOR on US $ deposits (London Inter-banks Offered Rate) for (12) twelve months period, plus a margin at:-
- 75 base points per year, in case funding period shall not be more than (18) months.
- 150 base points per year, in case funding period is more than (18) months, and up to maximum (3) three years period.
Financing up to 100% of the import invoice value, provided not to be less than Saudi Riyal 100,000, or equivalent in US $.
Repayment period up to (3) three years, based on the commodity/service type.
Provide funding necessary for imports and/or exports, based on type and nature of commodities, provided that funding shall be against documentary letters of credit or collection policies.