The Saudi Export Program (SEP) was founded by Royal Decree in 1999 under the oversight of the Saudi Fund for Development (SFD). Its mandate was to motivate Saudi exporters, particularly those in non-oil products, to expand their existing businesses and discover new cross-border markets via international trade.

SEP contributes by creating competitive advantages for national products ripe for exportation via its suite of financing facilities and insurance credits services, as well as mechanisms designed to promote Saudi products and facilitate their flow into new markets.

Furthermore, SEP provides its services on a higher-trade basis, and according to international standards, thus helping facilitate smoother credit checks and financing analysis for their clients with facilities abroad.

The SEP goes further, providing its services with competitive interest rates to assist Saudi exporters and importers reach their business goals.

Its mission is to carry out the aims of Saudi Vision 2030, which is designed to increase the level of non-oil exports of the Kingdom so that the country is no longer dependent on just a few income sources.

SEP aims to achieve this by:

• Developing and diversifying non-oil exports via the provision of funding facilities (finance & credit insurance)
• Maximise the competitiveness of Saudi exports via providing credits to foreign buyers and/or institutions of Saudi non-oil importers
• Motivate Saudi exporters to discover and enter new markets by mitigating risks associated with non-payment issues
• Enhance the facilities offered by the SEP and mitigate associated risks through technical cooperation, co-financing and reinsurance arrangements with the global and regional institutions that could be involved in this business

• Direct financing
• Indirect financing
• Exporter insurance
• Documentary credit insurance policy
• Documentary credit conformation contracts