The key features of the system:
Speedy and efficient performing of transactions: The system provides an integrated electronic platform for sending and receiving trade finance transactions . This enables fast and efficient transaction processing, from initial requests to completion by Central Operations Department.
- Speedy and efficient performing of transactions: The system provides an integrated electronic platform for sending and receiving trade finance transactions. This enables fast and efficient transaction processing, from initial requests to completion by Central Operations Department.
- Automated report generation: Users can easily and automatically obtain all necessary reports directly through the system, without the need for manual processing or referring to the bank.
- Improved service quality: The "Trade Hub" system aims to enhance and elevate the quality of services provided to customers, ensuring a higher level of satisfaction.
- Reduced transaction time: Transactions are received and processed in real-time through the system, minimizing the time required to complete them.
- Correspondence and inquiries: Clients have the capability to correspond directly with the bank and send transaction inquiries through the system, facilitating effective communication and prompt resolution of queries or concerns.
- Access to reports and notifications: Customers can conveniently access all reports and notifications related to their transactions directly via the system, ensuring transparency and easy availability of essential information.
System Services
1- The system provides the following Trade Finance products for subscribers to send and receive their transactions electronically:
Documentary Credits
- Import letters of credit: Issuance, amendments, acceptances, settlements, and correspondence.
- Export letters of credit: Advising, confirmation, amendments, transfer, negotiation, acceptances, discounting, settlements, and correspondence.
Documentary Collections
- Import bills for collection: Advising, acceptance, settlement, and correspondence.
- Export bills for collection: Issuance, acceptance, settlement, and correspondence.
Undertakings
- Issued undertakings, including letters of guarantee (bank guarantees) and Stand by LCs, with related transactions: Issuance, amendments, and correspondence.
- Received undertakings, including letters of guarantee (bank guarantees) and Stand by LCs, with related transactions: Advising, amendments, claims, and correspondence.
- Shipping guarantees are also supported.
- Generate reports, knowing the financial position of trade finance transactions, and follow them up at any time.
- Obtaining notifications & output of transactions executed by the Trade Finance Center at any time.