SMEs Forex Facility Eligibility
Apply now to access up to $50,000 (USD) per month through your primary banker to transact business related international purchases!
Before you start the application here are some helpful information to guide you through the process:
- The commercial banks from which applicants can access forex are Republic Bank Limited (RBL) & First Citizens Bank Limited (FCB).
- Note that all applicants must be in good standing with the aforementioned banks to be eligible to access forex.
- The term “applicant” is in reference to the company and not the individual assigned to complete the form.
- Registered business must be in operation for at least twelve (12) months to be eligible.
- The applicant’s name must match the name on the commercial bank account that will be utilized to purchase the forex.
- Successful applicants will be required to submit their ongoing monthly forex requirements (once per month) via email and utilizing requisite template.
- There is no guarantee that any business will get the amount requested as forex allocations are based on a combination of factors such as availability and information submitted.
- All clients of the SME Forex facility must satisfy the Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) requirements of the disbursing Commercial Bank. The Disbursing Bank retains the right to stop or refuse payment of the forex allocation to the client where necessary to ensure compliance.
- Completing, submitting and signing the application, constitutes explicit consent for the sharing of information and documents between EXIMBANK and the primary bank for the purpose of effecting this program.
Types of Businesses that are Eligible for the SMEs Forex Window:
- Sole Traders
- Partnerships
- Non-Public Limited Liability Companies
Types of Businesses that are not Eligible for the SME Forex Window:
- Publicly Listed Companies
- External Companies
- Unregistered companies
- Not for profit organizations
- Gambling, casinos, and equivalent companies
- Production or trade in arms and ammunition
- Money Transfer Services
- Companies participating in other EXIMBANK Forex programs
- CAF List of excluded business activities (see Appendix 1)
Note that factors such as the scale, location, sensitivity, and magnitude of a project’s impacts would be considered on a case-by-case basis.
It will be helpful to print this list before continuing to the application process :
- Applicant Details
- SMEs sector industry
- Banking Information including the commercial bank account number to purchase forex.
- Number of employees
- Annual sales
- Most recent Financial Statement to support disclosed sales and assets/ 12 month bank statements to support disclosed sales (For the purpose of verifying the disclosed sales, revenue deposits on statements should be identified and summed accordingly.) – Scanned Copy Required
- Certificate of Incorporation / Certificate of Registration – Scanned Copy Required
Eximbank Products
How can we help you?
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- Contact us at EXIMBANK’s office or submit a business inquiry online.
Contact Information
Email: smefx@eximbanktt.com
Phone Number : 682- EXIM (3946)
