Standing out with its innovative products and services, Kuveyt Türk became the first participation finance institution from Turkey to be accepted as a member of FCI, the umbrella organization of financial institutions providing guarantee and collection services for export receivables against goods. Thanks to the new product, which will be presented under the name International Supply Chain Finance, Kuveyt Türk shall not only provide financing services to customers exporting against goods, but shall also begin to guarantee their receivables and offer collection services.
The leading and innovative participation bank of Turkey, Kuveyt Türk has become the first participation finance institution from Turkey to become a member of FCI, which was established to contribute to the development of international trade volume and has nearly 400 members in more than 90 countries that supports forward export. Kuveyt Türk will provide all its exporting corporate customers with a comprehensive service that combines collection management, receivables guarantee and financing products for overseas sales of goods and services.
Kuveyt Türk’s Executive Vice President Corporate and International Banking Dr. R. Ahmet ALBAYRAK said, “We see our exporters as the dynamo of our country's economy and a locomotive that activates other sectors. We move forward by focusing on production, export and investment, and support our strategically important export companies by developing innovative solutions for their needs. We are happy to show that we stand by our exporters once again with our FCI membership, which will guarantee the foreign receivables of our exporters and enable us to provide collection services. The fact that we are the first participation finance institution in our country to carry out these transactions in accordance with the principles of interest-free finance, by signing a first in Turkey, can be expressed as an indicator of the importance we attach to our exporters. We will continue to support our exporters by developing new products and services.”
Adding the strength of FCI, of which it is a new member, to wide and strong correspondent network, Kuveyt Türk will offer companies that export against goods, which make up 70% of our country's export volume, the opportunity to expand in existing markets and open up to new markets with confidence, starting in the coming months.