State Bank of India offers trade finance solutions to Israeli corporates

Thursday 24 December 2020 10:38 CET | News

State Bank of India has announced it will be offering trade finance solutions and services to Israeli corporate businesses following the recent Abraham accords.

Trade finance solutions package for Israeli corporates includes bill discounting products for exports worldwide, including India, extending supplier's credit/ LC bill discounting, bill discounting based on reimbursement authorisation from LC issuing bank, and receivables financing under open account trade.

Other trade related products and services offer LC advising, LC confirmation, LC bill collection, and bank guarantees. The Abraham accords have led to the normalisation of ties between Israel and Arab countries and several delegation visits have already happened between these countries.

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Keywords: State Bank of India, SBI, Abraham accords, Israel, banking solutions, trade finance
Categories: Banking & Fintech
Countries: World
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Banking & Fintech

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