SME FOREX Facility FAQs

My business does not have Audited Financial Statements/Accountant's Report/Management Accounts for the last three (3) years, will it still be eligible to apply?

Yes. Customers who do not have financial statements can provide twelve (12) months bank statements showing deposits and withdrawals.

I do business with multiple banks, which bank would my business be able to use to access the forex?

Programme participants will be referred to ONE Disbursing Bank, either RBL or FCB.

I do not have an account with FCB or RBL, am I still eligible to apply for this program?

No. Currently only companies with existing FCB or RBL Accounts are eligible to apply for this program

My business is currently a participant of one of EXIMBANK’s forex facilities. Would it be eligible to qualify for the SME Forex Window?

No. However, program participants of any of EXIMBANK’s existing forex facilities can contact their EXIMBANK officer to discuss trade financing needs.

Could my business utilize the SME Forex Facility Allocations to fund accounts on International Payment Platforms?

No. The SME Forex facility participants will be unable to utilize forex allocations for international payment platforms such as PayPal, Wise, Brokerage accounts and Cryptocurrency wallets. However, the forex can be used for standard international business purposes.

If I access and utilize the Foreign Currency Facility, will I become a customer of EximbankTT?

No. Access to and/or utilization of the Foreign Currency Facility does not result in you becoming a customer of EximbankTT. You will remain a customer of your primary financial institution or commercial bank and be subject to any onboarding or contractual obligations between you and such primary financial institution or commercial bank.

eee

SME FOREX Facility FAQs

How can we help you?

Copyright © 2024. All Rights Reserved.