- Afreximbank Presents Trade Facilitation Programme to Egyptian Banks
The African Export-Import Bank (Afreximbank) has met in Cairo with leaders of the Egyptian Banking sector to present a new trade facilitation programme which it has developed to transform Africa’s trade.
The Afreximbabnk Trade Finance Facilitation Programme, which compromises a Trade Confirmation Programme and a Trade Confirmation Guarantee Programme, is being offered in response to the increasingly stringent compliance and regulatory requirements being imposed by international banks on African banks for trade confirmation lines. Those requirements have resulted in the international banks reducing or withdrawing trade lines to African banks and in confirming banks having risk capital and capacity constraints to support trade finance transactions.
The Trade Facilitation Programme is, therefore, structured to enhance the confidence of counterparties in the settlement of international trade transactions for intra- and extra Africa trade and to improve correspondent banking relationships.
Participating in the session, which took place on 27 Aug., were executives from 24 banks, including Abu Dhabi Islamic Bank; Ahli United Bank (Egypt); Al Ahli Bank of Kuwait; Alex Bank; Arab Bank; Arab International Bank; Arab Investment Bank; Attijariwafa bank; Banque du Caire; BanqueMisr; Blom Bank; Commercial International Bank; Credit Agricole Egypt; Egyptian Gulf Bank; Emirates NBD; Export Development Bank of Egypt; First Abu Dhabi Bank; Mashreq; National Bank of Egypt; QNB Al Ahli; SocieteArabeInternationale de Banque; Suez Canal Bank; The United Bank; and Union National Bank.