Bank Eskhata is participant of the Global Trade Finance Programme (GTFP) by IFC

Bank Eskhata is participant of the Global Trade Finance Programme (GTFP) by IFC

There are more than 130 financial institutions fr om 40 countries that for a long time cooperate with IFC, and in this programme they become participants of the 6th Annual Global Trade Partners Meeting organized by the International Financial Corporation (IFC). This year it took place in Lisbon, Portugal, on February 18-20. At this meeting Bank Eskhata was represented by Firuza Khotamova, specialist of documentary operations.
OJSC Bank Eskhata is the only bank in Tajikistan which is the programme participant as issuer bank. It has quite long experience of more than 7 years in trade finance, executing transactions under guarantee cover of GFTP by IFC, Washington D.C., USA.
The main goal of the conference is partners’ meeting in that project, “Face to Face” discussion, exchange of experience fr om different countries and financial institutions, wh ere each participant has opportunity to present its bank as reliable and stable partner.
Firuza Khotamova, representative, had meeting with colleagues from foreign banks that showed interest to Bank Eskhata (new banks/ financial institutions) and already maintain business relations.
“Generally European banks of Germany, Spain, Italy, Romania, Switzerland, Portugal, France and others have desire to collaborate with our bank. So, they proposed their services in trading finance by the way of LC confirmation and bank guarantees with terms acceptable to us”, - marked Firuza Khotamova.
One of the main meetings passed with direct curator, the regional head of IFC in Europe and Central Asia, Alexey Nikiforovich. Talks focused on the largest and most important trade finance transactions in 2013 that enabled and implemented supply of equipment from Italy to the Bank's customer.
Also at the meeting, questions were raised about increasing the limits between financial institutions, and relatively IFC support in opening of correspondent accounts in U.S. banks. Partners discussed future plans and prospects within the programme, which will enable the bank to improve financial trading business with other new international banks.
“It is important to note that joining this programme we have got access to international network of confirming banks and issuing banks. With this lim it, we were able to offer our customers longer terms of grace periods for post financing. IFC guarantee allows us to increase trade relations and improve the bank’s ability to respond to client’s requirements”, - said Firuza Khotamova.

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