We have correspondent banking relationship with more than 354 International banks around 137 countries the correspondent banks are selected with great care to ensure that our customers get the best and most reliable service in the foreign lands at most competitive rates. Moreover, it maintains relations with International Finance Corporation (IFC) with a credit limit of US Dollar 5.00 million to be exercised within the 182 IFC member countries. The bank is also engaged in an agreement with Asian Development Bank (ADB) for credit line facilities.
A wide network of correspondent banks helps our customers in the following ways:
Our Importer clients can have their import LC established through us and advised by our correspondents spread over the globe. As our bank has good standing in the international market, the LC established by us is accepted internationally. Nonetheless in case the supplier wants our LC to be confirmed by a bank in the country of the supplier, our correspondents will be pleased to add their confirmation to the LC established by us.
Through its large network of authorized branches, the Bank caters to the foreign exchange needs of its clientele engaged in export and import trade and the dealing room at H.O. provides rates for conversion of all major world currencies like U S Dollar, Great Britain Pound, Euro, Swiss Francs, Japanese Yen, Canadian Dollar, Hong Kong Dollar, Australian Dollar, Saudi Arabian Riyal, ACU Dollar and ACU Euro.
The services to the customers of the Bank include hedging of foreign currency risks and various derivatives product, instant encashment of traveler’s cheque and foreign currency notes tendered by the tourists. Granting of pre-shipment credit in foreign currency and BDT to exporter customers Purchasing/Discounting/Negotiating of export bills Opening of foreign letters of credit for import customers and issue of foreign customers, Execution/Transmission of Payment Orders through SWIFT, Correspondent relationship with major international Banks