Al Baraka International Banking
Providing you with efficient, personalised service, competitive exchange rates and favourable service fees for all your foreign exchange and international banking transactions to suit your business needs.
The importer receives documents for clearance of goods imported in exchange for payment or the acceptance of a Bill of Exchange where payment terms have been given by the supplier.
Documentary Letters of Credit
Letters of Credit facilitate import transactions by safeguarding:
- The importer: through the receipt of documents evidencing shipment as requested
- The supplier: in offering a guaranteed payment, provided the Letter of Credit terms are complied with
Exchange Control Applications
As an Authorised Dealer we are able to handle all your Exchange Control Applications to the South African Reserve Bank.
As an Authorised Dealer we are able to provide you with immediate and competitive spot exchange rates for all your overseas commitments.
Inward and Outward Remittances
Inward and Outward Remittances, effected through SWIFT, are a secure, quick, efficient and inexpensive way for remitting funds between banks globally for international trade.
Al Baraka Trade Finance provides you with the most flexible of business finance packages for whom a revolving trade finance facility is essential:
- Manufacturers wanting to source raw materials
- Suppliers of raw materials
- Traders wanting to source goods for re-sale