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.
- Multiple applications from companies with cross ownership are not eligible.
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)
