Sahara Bank, in liaison with its strategic partner BNP Paribas, held its first “Trade Finance Conference” in Tripoli on 9 April 2008.
The conference presents the expertise available from the two partners and provides a forum to share best practices and discuss the many opportunities now available for the Libyan corporate sector.
Reflecting the growing weight of international transactions in Libya, Sahara Bank and BNP Paribas will organise additional conferences in 2008, focused on strengthening the competitiveness and profitability of Libyan companies in national and international markets.
With these conferences, Sahara Bank and BNP Paribas aim to add value to the development of the Libyan corporate sector. The conference was divided in two parts: an overview of the international trade market, and a closer look at specific trade finance issues.
BNP Paribas gave a detailed review of its expertise in terms of products, technology and network capabilities, with a focus on the tangible benefits for Sahara Bank’s corporate and institutional clients of using these services.
“Sahara Bank’s goal is to be the first Libyan Bank that meets international standards, providing commercial banking services with innovative, tailor-made solutions, supported by state-of-the-art banking operations and risk management thanks to close integration with the BNP Paribas group,” says Claude Rufin, CEO, Sahara Bank.
Sahara Bank has created a Trade Center right at its head office to support local and international clients. The Trade Centers are a unique and innovative concept deployed by BNP Paribas on five continents, connecting 85 countries to the current network of 90 Trade Centers.
The Trade Center makes Sahara Bank part of a global network, providing access to a variety of tools to help clients structure transactions and take advantage of tailored products and specific applications.
BNP Paribas’ “Connexis Trade” e-banking Trade Systemwhich facilitates the issuance of letters of credits and guarantees through a secure Internet applicationwas also featured during the conference. Launch of e-banking services like this is scheduled for later this year.
“The Trade Center in Tripoli will provide better services to Libyan corporate and institutional sectors and to international companies thanks to a dedicated sales force of more than 250 trade professionals around the world. The Trade Center offers an efficient gateway to the worldwide network,” adds Rufin.