EEB deals exclusively with registered corporates and clients based in active markets such as UAE, Malaysia, Indonesia, Vietnam, Thailand, China, Africa and India. It assists importers of sourced frozen food, garments, sewing machines, plastic piping, ceramics, plumbing accessories, pulses, raw metals, automobiles, among other products to trade with these markets.
The bank is now establishing offices in Singapore, Dubai and Chennai. The idea is to take maximum advantage of the rise in trade between the Middle East and Far East. This initiative will also help build sales and provide vital services in Africa and the Indian subcontinent.
“The bank is now establishing offices in Singapore, Dubai and Chennai. The idea is to take maximum advantage of the rise in trade between the Middle East and Far East.”
EEB’s international team has immense knowledge and experience in trade finance and SWIFT messaging for transmission of complex instruments, courtesy of its extensive network of contacts and counterparties with renewed concentration in emerging markets.
EEB provides letters of credit and standby letters of credit, along with performance bonds and bank guarantees, from St. Lucia. The bank is also planning to expand its platforms based on foreign exchange service, the introduction of tradeable digital assets and merchant accounts.
This is one of the first regulated banks to have implemented the latest payment technology, following collaboration with RippleNet and xCurrent. Through the latter, EEB tracks real-time payments accurately and effectively, without the hassle of multiple routing. On-demand liquidity services (ODL) bring clients unlimited, low-cost access to liquidity with the help of the XRP digital asset. This digital asset provides guaranteed exchange rates and immutability with frictionless transfer and settlement.
The bank provides thought leadership articles for international publications, participates in global conferences including GTR, TXF, Caribbean Association of Banks, Ripple and other key financial gatherings, and more recently, has extended its video, digital and social media output.
Internationally recognised for trade finance activity, EEB is confident of retaining its esteemed position for many years to come. The bank’s regional experience, innovative trade platform, superior account services, international expansion, and trade digitalisation (with blockchain & AI capabilities) are key to positioning itself as a leading trade finance facilitator.
According to CEO, Kaushik Punjani, “Building a business takes years, and relies on solid foundations. In the current uncertain economic climate, firms must be realistic in profit and investment outlook, exercise pragmatic management, hire professionals, release the unproductive, listen and learn constantly from peers and competition, understand value and contribution (not just expenditure) and ultimately work out what customers want and keep delivering it.
By Graham Bright Head of Operations and Compliance at Euro Exim Bank
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