The bank provides the following facilities to the industrial sector (public, mixed, cooperative, private and vocational)
Short term loans for a period that does not exceed one year as to finance the working capital , purchasing raw materials and the procurement of production requirements.
Medium term credits for a period that exceeds a year up to less than five years as to finance setting up industries and trades whether for purchasing machinery and equipment or for the erection or purchasing buildings for manufacturing or trade purposes.
Long term loans for a period that exceeds five years but not more Than ten years, as to finance setting up industries or trades whether for purchasing machinery and equipment or for the erection or purchasing buildings for manufacturing or vocational purposes.
Debit current accounts to the public and mixed sectors and cooperative and trade societies, only to secure their necessary requirements of cash money within a narrow limit. These accounts are active accounts.
Discount of commercial and industrial promissory notes and purchasing cheques and drafts.
Advances on export shipping documents at a specified rate of each exported shipment value.
Advances on export contracts at a specified rate of each exported shipment value .
Non-cash facilities such as guarantees and “acceptances”.
Financing the graduates of university colleges and intermediate institutes in mechanical and electrical engineering fields, and the industrial institutes and the like there to that are related to industrial field as well as industrial secondary school graduates and training centers, according to rules and special incentives rulings.
Financing inventors whose inventions are of industrial nature, as per the incentive special rulings.
Financing against industrial saving in specific amounts in proportion to the mount and term, of saving, in accordance with the special incentive rules.
The bank was founded in 1958 and commenced operation in March 1959
(last updated: 17-February-2004)
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