Foreign Exchange Rates
The bank provides daily foreign exchange rates to all branches for quoting to its clients. These rates are provided before opening of the bank, enabling business units to quote them to their clients throughout banking hours. These rates are updated as and when it fluctuates throw all international markets i.e. Middle East, London & New York.
The Bank enjoys excellent relationships with other banks locally & internationally to maintains nostro accounts in all major foreign currencies to handle its outward/inward remittances. These accounts are used to route all foreign currency transactions, Trade and Treasury funding. The Treasury ensures timely and proper management of these accounts, in order to facilitate customers’ transactions in the best possible manner.
International Murabaha is one of the very key products for the bank’s liquidity management. This product is widely used in Islamic banking for liquidity management. The product involves the metal transaction Murabaha which is done through the London Metal Exchange.