Vision Bank announces trade financing solution to support SME cross-border trade
Vision Bank, an Abu Dhabi-based Islamic bank, has launched a Shariah-compliant trade finance solution for small and medium enterprises (SMEs) to support cross-border flows.
The new solution will focus on providing short-term trade finance to SMEs, originated through a multi-channel approach led by platform partnerships, the bank said in a statement.
The bank said that it aims to support SMEs that require working capital linked to real trade flows as opposed to traditional balance-sheet lending criteria. The financing solution will support a more efficient approach to SME trade finance by assessing underlying trade transactions, relevant counterparties and associated credit risks.
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