Financial Institutions

The Financial Institutions unit is responsible for managing relationships with domestic and international banks and financial institutions. In particular, it is responsible for the facilitation of:

  • Foreign trade (import and export) and remittance
  • Other foreign currency business and transactions
  • Offshore Banking
  • SME and remittance disbursements
BRAC Bank has about 400 global correspondent relationships across the world to facilitate cross-border transactions including import and export. The bank maintains 26 overseas nostro accounts in 10 different currencies. The bank is able to process payments in more than 118 currencies in the world through the multi-currency transactions facility. BRAC Bank is an active partner of the Global Trade Finance Program of the International Finance Corporation (IFC) and also of the Asian Development Bank (ADB), along with other global correspondents.

The Financial Institutions team also focuses on exploring new markets and establishing new relationships/business lines to stimulate the bank's growing FX business including trade finance. The range of service starts from establishing relationship Management Account (RMA) to arranging cost efficient confirmation, discounting facilities for corporate and SME customers and ensuring flawless service of cross-border LC advising, settlements, payments etc. In addition, it also assumes responsibility for sourcing liabilities for the bank's Offshore Banking Unit (OBU) book through borrowings and structured products backed by trade finance instruments. It also offers various trade finance facilitation service including UPAS to other domestic banks in Bangladesh.

BRAC Bank FI is very active in the guarantee business against overseas bank's counter guarantee. The service includes issuance of bid bond, performance bond, warranty bond, advance payment guarantee, Guarantee for Payment of Customs duty, etc. in favor of various government, autonomous and private entities.

AML/KYC Documents:

You can reach out to our Financial Institutions Desk at:

Email: [email protected]
Telephone: +88028801261
Swift: BRAKBDDH



 
 
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