The white clay in this bar is kaolin, a very fine mineral clay commonly used in cosmetic cleansers and masks. Its main role here is mild adsorption: it helps bind excess sebum and surface impurities so they can be rinsed away with the lather. This is why clay-based cleansers often leave skin feeling cleaner, less greasy and more matte than a simple wash without clay.
It is important to distinguish this from exfoliation. The product description does not position the soap as a scrub, and kaolin is used for its fine, absorbent character rather than for abrasive polishing. If you are looking for a rough physical exfoliant, this is not that type of product. If you want a straightforward bar soap with a slightly more oil-absorbing finish, the white clay is the relevant feature.
The soap-based cleansing agents lift dirt from the skin surface, while glycerin helps reduce the tight feeling that can follow washing. Even so, any soap-style cleanser can feel too drying for some people, especially with frequent use, so comfort after rinsing is the best guide to whether it suits your routine.