For Banks

Borrowing for OBU

Most of the private commercial banks in Bangladesh operates Offshore Banking unit (OBU) with the approval of regulatory authority to operate banking activities denominated in FCY.

OBUs are allowed to accept deposits from outside Bangladesh and borrow from abroad. They will also be free to make advances / investments abroad and also make permissible transactions with industries in the EPZs (Export Processing Zone).

Borrowing from a cheaper source of fund in FCY and lending it at higher rate to bank’s existing clients is a profitable business. Moreover capacity to lend in FCY always attracts new clients to bank as historically there is always a bigger gap between lending rates of BDT and FCY. But such Borrowing source is too limited within Bangladesh.

ITTS with the help of it’s overseas connected network can assist BD banks to secure borrowing in FCY at a competitive rates

Deposit for OBU

Most of the private commercial banks in Bangladesh operates Offshore Banking unit (OBU) with the approval of regulatory authority to operate banking activities denominated in FCY.

OBUs are allowed to accept deposits from outside Bangladesh and borrow from abroad. They will also be free to make advances / investments abroad and also make permissible transactions with industries in the EPZs (Export Processing Zone).

Collecting deposit from allowable sources in FCY and lending it at higher rate to bank’s existing clients is a profitable business. Moreover capacity to lend in FCY always attracts new clients to bank as historically there is always a bigger gap between lending rates of BDT and FCY. But such deposit source is too limited within Bangladesh.

ITTS with the help of it’s overseas connected network can assist BD banks to procure deposits in FCY at a competitive rates

LC Advising

(China Bound Only)

Peoples Republic of China is one of the top bilateral trade partners of Bangladesh and trade volume between two countries continuously increasing. More than 50% of total number of International LCs issued from banks in Bangladesh are china bound. But due to cultural and language gap between two countries LC issuing banks in Bangladesh are facing much handle to ensure smooth services (for advising of those LCs) to their clients.

ITTS providing LC Advising Services to Bank’s operating in Bangladesh for their china bound LCs through a collaboration with Zhejiang Mintai Commercial Bank (SWIFT Code: ZJMTCNSH).

We have introduced LC advising Services in the market to help banks to overcome those hurdles. We have predefined standard TAT for advising of LCs routed through Zhejiang Mintai Commercial Bank (SWIFT Code: ZJMTCNSH). Our Online LC tracker facility enable all related parties (LC issuing bank, Importer &Exporter) to see the latest position of the LC advising status simply entering LC number is. This LC tracking facility drastically reduce the working pressure of banks related to issuing and advising process of China bound LCs

RMB NOSTRO Account

Peoples Republic of China is one of the top bilateral trade partners of Bangladesh and trade volume between two countries continuously increasing. In addition to that, RMB already gaining popularity as a medium of settlement for International Trade deals globally. Due to these reasons most of the banks feel having RMB NOSTRO account is essential now a days. Leading Chinese banks are reluctant to provide such services due to poor volume & ineffective communication. We can assist any banks operating in Bangladesh to open their RMB account in china with our different Chinese banks within our connection.

Synergy For Banks

What is 

Synergy a swift certified Trade Service application developed by Pinnacle Solutions Incorporated, USA (PSI)

Synergy Trade Services (TS) is a complete, front-end and back end SWIFT certified solution for Banks for Trade Services and Trade Finance operations. Synergy Trade Services (TS) covers all functional areas of trade services like transaction capture, risk and compliance checking, documentation generation, correspondence, accounting, payment and fee generation.

In addition, the Synergy customer front-end provides your customers a digital connectivity to send and receive messages and documents to bank’s counter.

Why

**Synergy Straight through processing and automated compliance process will reduce transaction processing cost by 50%
**Synergy enables you to Centralize your trade processing without incurring additional cost for booking new space and relocation of employees.
**Synergy will drastically reduce your physical documents achieving cost with effective paper less trade operations.
**Synergy will Increase your brand value as well as increase customer engagement by allowing effective digital connectivity to your trade clients