The services have been launched through the JPMorgan Chase Bank Riyadh branch, to enable Saudi-based companies to trade internationally and global 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 products launched through the Riyadh branch earlier this year.
The offering is supported by a team of trade finance professionals based in the Riyadh branch of JPMorgan Chase Bank, a licensed bank in the Kingdom of Saudi Arabia.
JP Morgan regional head of trade sales for Middle East & North Africa Farrukh Siddiqui said JP Morgan’s trade finance capabilities, delivered through the Riyadh branch, demonstrate the firm’s commitment to serve their 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.
"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," Siddiqui said.
