Financial Institutions
FID (Financial Institutions Department) manages BSF's global bank network, and serves as a focal point to provide clients with access to international markets and solutions, by strengthening our partnerships with FIs across the globe.
RMA Initiation
FID facilitates and manages Relationship Management Arrangements (RMA) with banks, in order to facilitate different banking needs.
Proposal of Credit Facilities
FID establishes and proposes proper credit limits and facilities for countries and banks across Global Markets, Trade Finance, and Cash products to ensure offering our clients with a wide variety of quality services.
SAR Clearing
- Provides Saudi Riyal clearing services, covering foreign exchange needs, trade finance, reimbursement orders, and payments.
- Ensures efficient services with highly competitive terms and conditions, including tariffs.
- Grants access to an efficient and flexible E-banking platform with a proven track record, tailored to client's diverse needs.
Local and International letters of Guarantees
BSF facilitates issuance and reissuance of guarantees for projects in Saudi through global financial institutions counter guarantees. We also assist clients in international guarantee issuance by leveraging our network.
Letters of Credit
BSF provides services to importers and exporters by issuing, advising, confirming, and discounting letters of credit with numerous correspondents worldwide.
Financing Financial Institutions
FID oversees cross-border lending opportunities that goes with BSF's strategy and overall risk appetite.
Nostro Accounts
BSF manages a wide network of international correspondent accounts to facilitate services for outward businesses generated by our customers in different currencies. It pursues to negotiate the finest quality of service at the best prices and latest technologies.
Funding BSF Balance Sheet
FID works closely with BSF’s Treasury to support the bank’s funding requirements through our relationships which diversifies BSF funding sources.
Compliance and Regulatory Matters Duties
- FID acts as the initial line of defense in regulatory and compliance matters.
- FID serves as the primary contact for international financial institutions inquiring about BSF.
- FID ensure all compliance matters are covered and handled properly.
- Ensures compliance with regulations imposed by SAMA, Global Sanctions, and BSF Compliance regulations.
- Manages documentation for smooth day-to-day business workflow.
You can reach out to BSF Financial Institution through the group email:
fidbsf@bsf.sa
