Financial Institutions Department manages the relationship that Banque Saudi Fransi has with international and Saudi Arabian banks and correspondents.
Some of the products offered are:
Vostro - Loro Accounts
Banque Saudi Fransi offers Saudi Riyal clearing activities including foreign exchange requirements, trade finance, reimbursement orders and Saudi Riyal remittances while ensuring most efficient services and highly competitive terms and conditions including tariffs and reciprocity with access to the E-banking platform for inquiry of the day to day activity with a proven track record for efficiency and flexibility to Client various needs.
Banque Saudi Fransi manages a fair network of international correspondent accounts to facilitate services for outward businesses generated by our customers. It pursues to negotiate the finest quality of service at the best prices.
Local and International Guarantees
Banque Saudi Fransi can assist in issuing and reissuing guarantees such as bid bonds, performance and payment guarantees against counter guarantees favoring a beneficiary especially those companies who are active in projects that benefit Saudi Arabia in a whole.
Letters of Credit
Banque Saudi Fransi also provides services to importers and exporters by issuing, confirming and discounting letters of credit with numerous correspondents worldwide
Compliance and Regulatory Matters
Financial Institutions Department ensures all compliance matters are covered and handled properly within the rules and regulations imposed by the Saudi Arabian Monetary Agency (SAMA) and by the Compliance department internally. It also ensures that all documentation for processing day to day work flow are handled effectively and efficiently to allow smooth business flows such as signing ISDA, CSA, etc. while complying with the international standards like Doddfrank, EMIR, FATCA etc.
Financial Institutions Department is the main contact for financial institutions when requiring information about Banque Saudi Fransi, more over it is responsible for setting up country limits for several parties interested to work with Banque Saudi Fransi whether related to Global Markets, Trade Finance or Cash management vis a vis recommending credit limits internally depending on extent of relationship and country/credit risk.