Offshore banks are those that operate outside of the UAE’s legal jurisdiction. Unlike local banks, offshore banks provide businesses with a great deal of freedom, particularly when it comes to cross-border trade operations. In comparison to local banks, the cost of finance/product is also lower.
TACB can offer credit facilities because to their expertise in trade finance and extensive experience working with offshore banks. Customers can use these services to complete trade transactions using Financial Instruments. The following are some of the major areas of work:
LC transactions that occur back-to-back in a trade deal
Issuance and monetization of SBLCs and BGs
Limits on overdrafts against Financial Collaterals like SBLC/BG/MTN.
TACB helps clients structure transactions and ensures that they are completed correctly.
Aside from trade activities, offshore banks are known for their excellent wealth management services.