Financial Institutions | Correspondent Banking

420 banks in 77 countries & 650 Global Correspondents

Financial Institutions, a part of the Transaction and International Banking Group, primarily focuses on building and maintaining relationships within the financial sector. Relations range from authenticated communication links by way of SWIFT RMA to trade, treasury and account maintenance in different currencies worldwide. With over 420 banks in 77 countries, our 650 globally located correspondents provide all trade services, seeking to add value and service to our branches and functional units. Services include advising, confirmation, discounting of letter of credits, reimbursement undertakings and standby LCs and guarantees. Further, the ever-increasing SWIFT RMA relationships with financial institutions serve to route all kinds of transactions.

Services Provided

L/C Advising

L/C Confirmation

Islamic Alternative to Discounting of Export Bills

Reimbursement Undertakings

Standby Letters of Credit

Guarantees

International Finance Corporation’s Global Trade Finance Programme

Boosting Access to Trade Finance for Entrepreneurs & Businesses

The IFC Global Trade Finance Program promotes trade with emerging markets worldwide by flows of goods and services to and from developing countries
Through this program, IFC provides guarantee coverage of bank risk in emerging markets, allowing recipients to expand their trade finance transactions within an extensive network of countries and banks and to enhance their trade finance coverage.
The guarantee coverage not only mitigates country and bank risk but also provides an opportunity to establish correspondent relationships with counterparts across the world.

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Asian Development Bank’s Trade Finance Facilitation Programme

Facilitating Letters of Credit

TFFP is the financing facility for banks operating in Pakistan enabling them to open Letters of Credit (LCs) in areas where Pakistani credit line is not being accepted.
Under the agreement, the ADB will indirectly confirm Meezan Bank’s letters of credit. ADB will effectively act as a guarantor for import L/Cs established by Pakistani businessmen through Meezan Bank and the facility will provide much needed support to Pakistani importers in these challenging times for the global economy.
The agreement opens doors for establishing and strengthening correspondent relationships with international financial institutions across the world as well as mitigating country and bank risk via issuance of ADBs guarantees to participating banks in different countries.

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