Al Rajhi Bank can remit trade documents representing the ownership of merchandise. At maturity or at sight, Al Rajhi Bank receives the funds and pays the exporter. There is no obligation for Al Rajhi Bank to pay the exporter until the full funds are received.
Al Rajhi Bank remits the documents representing the ownership of the merchandise and the collection instructions to Importer's Bank.
Al Rajhi Bank remits the documents representing the ownership of the merchandise and the collection instructions to its clients (importer) upon payment or acceptance of a draft or promissory note.
Al Rajhi Bank free of charge has launched a new service in order to allow the importers to track the status of their collection documents and to be aware if it is ready to be collected through Global Trade services centers. Also, allow the exporters to track their documents, which have been sent to the correspondent banks. In order to use the service, you need to enter the tracking no and Al-Rajhi bank reference and click on Verify button through eTrade website.
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