Doing Business In Saudi Arabia - Bna

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Recently, the Saudi Fund for Development began to offer financing for Saudi exports to countries where there is no commercial bank coverage, no correspondent banks and/or high-risk country/bank. The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) provides Export Credit guarantees on exports to member states and to companies owned/partly owned by member states. In addition, the corporation provides investment insurance and guarantees against country risks to member states. Other regional organizations that also provide for project and trade financing to promote investments and social development in the Arab world include: Arab Fund for Economic and Social Development, which is an autonomous regional Pan-Arab development finance organization. Members include all Arab states in the League of Arab Nations. Arab Industrial Development and Mining Organization, which is also a Pan-Arab organization for the encouragement of industrial and mining investments. Arab Monetary Fund, a 21-member regional Arab organization aiming to improve the balance of payments of member states, to promote Arab monetary cooperation as well as trade among member states. The organization also advises member countries on policies with respect to their foreign investments. Inter-Arab Investment Guarantee Corporation, which aims to promote and facilitate inter-Arab investments and trade. Web Resources Return to top Export-Import Bank of the United States Export-Import Bank of the United States, Country Limitation Schedule The Overseas Private Investment Corporation United States Trade and Development Agency Small Business Administration, Office of International Trade United States Department of Agriculture, Commodity Credit Corporation U.S. Agency for International Development Saudi Credit Bureau Saudi Arabian Monetary Agency Saudi Investment Bank Saudi Credit Bank Saudi Agricultural Bank Public Investment Fund Saudi Industrial Development Fund Real Estate Development Fund Islamic Development Bank Saudi Orix Leasing Corporation Council of Saudi Chambers of Commerce and Industry Saudi Fund for Development Arab Monetary Fund Islamic Corporation for the Insurance of Investment and Export Credit Arab Fund for Economic and Social Development Arab Industrial Development and Mining Organization Inter-Arab Investment Guarantee Corporation Return to table of contents 5/13/2008
Return to table of contents Chapter 8: Business Travel 5/13/2008 Business Customs Travel Advisory Visa Requirements Telecommunications Transportation Language Health Local Time, Business Hours and Holidays Temporary Entry of Materials and Personal Belongings Web Resources Business Customs Return to top Modern Saudi Arabia has adopted many of the business methods and styles of the West, but differences remain. Most important is that business will generally only be conducted after a degree of trust and familiarity has been established. Considerable time may be spent exchanging courtesies, and several visits may be needed to establish a business relationship. Business visitors should arrange their itineraries to allow for long meetings, as traditional Saudis often maintain an "open office" in which they will sign papers, take telephone calls, and converse with friends or colleagues who drop by. Tea and traditional Saudi coffee are usually offered. One to three cups of Saudi coffee should be taken for politeness, after which the cup should be wiggled between thumb and forefinger when returning it to the server to indicate that you have finished. Many Saudi businessmen have been educated or have traveled extensively in the West and are sophisticated in dealing with Americans. For the most part travelers can rely on the usual Western manners and standards of politeness to see them through, with a few additional rules that may be observed. One should avoid sitting at any time with the sole of the foot pointed at the host or other guest. Unless one is on familiar terms with a Saudi, it may be discourteous to ask about a man's wife or daughters; ask instead about his family. Shoes are often removed before entering a Saudi Majlis (living room). If you are invited to the home of a Saudi for a party or reception, a meal is normally served at the end of the evening, and guests will not linger long after finishing. Customs and manners differ, so be observant and adapt your behavior to that of your host. Dress is conservative for both men and women. Men should not wear shorts or tank tops, while women are advised to wear loose-fitting and concealing clothing with long skirts, elbow-length sleeves, and modest necklines.
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Doing Business In Saudi Arabia: A C
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5/13/2008 Commercial Disputes Settl
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growing competition from local and
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contractors must subcontract 30 per
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There are many firms throughout Sau
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a commercial registration. Addition
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Information Technology Equipment &
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Electrical Power Systems (ELP) Over
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