Import P/N discount
The bonds/promissory notes created by the buyer and avalised by importers bank are discounted through correspondent banks upon the buyers request and the amount is paid to the beneficiary/importer on a sight basis.
Murabaha is an islamic financing technique for the financing of the goods required by the buyer. Conventional banks cannot be a direct part of murabaha transactions, but take place as a guarantor.
It is a financing technique in which medium-to-long term loans are offered to importers through the Export Credit Agencies of Exporter countries in order to promote their exports.
Country credit agencies
||HERMES (Euler Hermes Kreditversicherungs-AG )
|America (GSM programı)
||CCC (Commodity Credit Corporation)
||OeKB (Oesterreichische Kontrollbank AG)
||ONDD (Ducroire/ Nationale Delcrederedienst)
||SERV (Swiss Export Risk Insurance)
||ERG (Swiss Export Risk Insurance)
||JBIC (Japan Bank for International Cooperation)
||SEP (Saudi Export Program)
Exporters in Turkey secure loans for their agricultural product imports from the United States (US) through the GSM 102 program executed by Commodity Credit Corporation (CCC) under the US Ministry of Agriculture. In GSM loans, the said institution insures the commercial and country risk and the loan is provided to the exporter by the bank that intermediates the transaction in the US.