confirming bank

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confirming bank

References in periodicals archive ?
The EU5 million trade finance line will allow Union Bank to issue guarantees in favour of confirming banks.
The board also addressed progress on banks implementation of the Nationalisation strategy as well as SME finance confirming banks commitment and support to enhance Emiratisation and increase banks finance to SMEs.
Through the Programme, the EBRD provides guarantees to international confirming banks, taking the political and commercial payment risk of international trade transactions undertaken by banks in these countries.
The trade finance line will allow UIB to issue guarantees in favour of confirming banks and provide cash financing for pre-export and post-import financing as well as for local distribution, it said.
The press release from Credit Agricole Egypt said: "TFP is the platform through which the EBRD provides guarantees to international confirming banks and short-term loans to selected banks and factoring companies for on-lending to local exporters, importers and distributors.
Under this Facility, the EBRD will issue guarantees in favor of international confirming banks, taking the political and commercial payment risk of international trade transactions undertaken by these banks in the countries where the EBRD works.
Under the programme, the EBRD not only provides guarantees to international confirming banks, but also grants short-term loans to select banks and factoring companies for on-lending to local exporters, importers and distributors.
5 billion [euro] in total, and more than 800 confirming banks worldwide.
By joining our global network, Ohridska can build and strengthen relationships with over 250 international confirming banks," said Georgina Baker, IFC Director for Global Trade and Supply Chain Solutions.
Ameribank has been included in the list of EBRD confirming banks.
AfDB revealed that majority of African banks have small capital bases which constrain their ability to obtain adequate trade limits from international confirming banks and to undertake sizeable transactions that have significant development impact.
There has been an attempt to resolve the Banco Santander problem by establishing a definite undertaking of issuing and confirming banks to reimburse on maturity whether or not the nominated bank prepaid or purchased its own acceptance or deferred payment undertaking.