Nabil Bank joins India’s Export-Import Bank’s TAP
According to the bank, this partnership with Nabil Bank opens up opportunities to facilitate incremental trade between Nepal and India, as well as to strengthen Nepal and India's growing economic engagement.
KATHMANDU: Nabil Bank is the first and only bank to be approved by the Export-Import Bank of India to issue bank agreements under the Trade Assistance Programme (TAP).
After a thorough risk assessment, India Exim Bank approved the Trade Assistance Program facility for Nabil Bank.
According to the bank, this partnership with Nabil Bank opens up opportunities to facilitate incremental trade between Nepal and India, as well as to strengthen Nepal and India’s growing economic engagement.
Under the agreement, EXIM Bank will issue payment guarantees to Letter of Credit (LC) accepting banks in India in support of Nabil Bank’s payment obligations, thereby increasing the capacity of commercial banks/financial institutions in India to support cross-border trade transactions involving markets such as Nepal, where trade lines are constrained.
According to the bank, Nabil has strived to play a catalytic role, as a key player, in facilitating Nepal’s international trade and investment relations with partner countries, as well as contributing to Nepalese business’s internationalization efforts. Furthermore, the bank believes that Nabil’s collaboration with EXIM Bank under TAP will be another milestone in Nepal’s banking sector’s globalization.
India Exim Bank is the primary financial institution in charge of coordinating the operations of institutions that finance exports and imports and are wholly owned by the Government of India. It has played a catalytic role in facilitating India’s integration into the global economy over the years by promoting, financing, and facilitating Indian international trade and investment.
Nabil Bank has rightfully established itself as the first choice provider of comprehensive financial services to all stakeholders, thanks to its solid foundations, unwavering efforts, effective strategies, and prudent management practices. The Bank offers a full range of commercial banking services, including branch banking, treasury, trade, cards, remittance, and investment banking.
The bank has 233 branch offices, 269 ATMs, numerous POS terminals, remittance agents across the country, and over 200 international correspondent banking relationships.
