JP Morgan Launches Trade Finance Capabilities in Saudi Arabia
JP Morgan has launched a range of trade finance products, including documentary, guarantee and structured export and import finance trade products, in Saudi Arabia. Saudi-based companies will be able to trade internationally and global multinational companies (MNCs) to deliver their business in Saudi Arabia.
The Saudi Arabia-based trade finance capabilities extend JP Morgan’s global coverage and complement the previously announced treasury, money market and foreign exchange (FX) products launched earlier this year. The offering is supported by a team of trade finance professionals based in the Riyadh branch of JP Morgan Chase Bank, a licensed bank in Saudi Arabia, and supports all aspects of global trade.
“JP Morgan’s trade finance capabilities, delivered through the Riyadh branch, demonstrate our commitment to serve our clients in the markets that matter to them the most, and to do so in the local time zone, local currency and with local service,” said Farrukh Siddiqui, regional head of trade sales, JP Morgan, Middle East and North Africa. “Our global reach in trade finance, coupled with our local trade finance capabilities and correspondent banking network, make it easier for our global clients to access the opportunities here.”