After an agreement is reached between the client and the bank on the profit that will be added to the actual price of the estate, the bank buys the estate and then sell it to the client on installments.
This pioneering heading comes as result of the Bank acquisition of almost 30 % market share of export LCs and to Bank prestige for several consecutive years that shapes our excellent international reputation among Yemeni local banks.
Tadhamon Bank is classified No. 1 among Yemeni Banks. We have a net of worldwide correspondents which is growing day after another as customers’ trust of the Bank increases.
Therefore, we, the Bank, put ourselves in great responsibility to offer significant services which our costumers look for and fitting them. For that, we are keen that our goal, which we are longing to in a clear way, is moving parallel with our customers’ goals. This is to promote our services that are conducted by skilled and trained minds that have experience in international trade and its possible risks.
In addition, the Bank involves actively in building our dear country and participates in its progress and prosperity by the help of pure and loyal Yemeni minds. This building process could be achieved by facilitating commercial exchange process and involving in economic growth of Yemen.
This bank service is designed to facilitate and ensure the commercial exchange between the local importer and external exporter. This is to ensure that goods delivered save and sounds and exporter receives goods value. This is to be done through a net of our worldwide correspondents in order to enhance the Bank-Dealers mutual trust. Tadhamon Bank offers all types of import LCs such as self-funding LCs, Morabaha LCs and speculation LCs.
By this bank service, exporter’s LCs are being received and Bank local customers being informed in order to process goods and documents. This service is offering all suitable expediting to encourage export movement. This will be reflected positively on improving local currency price by exchanging foreign currencies. This process offsets cash losses caused by importing process and encourages local production and markets it internationally
Due to the trust between bank and its dealers, the Bank sends the documents directly from the international exporter to the local importer and collects fees on this process. The Bank here plays the mediator role by collecting fees according to the correspondent bank and beneficiary’s instructions, delivering documents, paying to offshore beneficiary and providing all kinds of collections (i.e. self-funding, Morabaha collections).
Charged documents are being offered by the local beneficiary in order to export goods. Documents are being circulated and sent to the offshore bank according to instructions. Then the offshore bank delivers documents and collects fees to the benefit of the offshore bank customer.
Guarantees issued by our Bank to a beneficiary are considerably accepted in all banks worldwide due to the financial and international good reputation and widespread of correspondent banks that we deal with. The Bank offers all types of guarantees such as advance-payment guarantee, payment guarantee, proper implementation guarantee … etc.
TIIB is considered to be the best destination of offshore banks as so many incoming export guarantees from external banks directed to local beneficiaries mostly for government agencies. Government agencies do not accept guarantees form banks located outside Yemen therefore offshore banks are forced to choose local Yemeni banks to issue a text and content counter-guarantee on its behalf for the benefit of the government agency.
Managing your money effectively through an easy and safe way
It is on request deposit for individuals and corporations, through which you can deposit and withdraw cash, send and receive transfers in and out the bank.
Please visit the nearest branch of the Tadhamon International Islamic Bank
or call (00967 1 666666).