Cooperation Protocols are concluded between TIM and the Banks

Turkish Exporters' Assembly representing more than 71 000 exporters extended the scope of its cooperations with Akbank, Fibabanka, Halkbank, Vakıfbank and Kuveyt Türk, a participation bank, through the protocols signed at the beginning of 2016 in order to give more supports to the exportation which is the locomotive of Turkey's economy. By this way, the exporters can easily have access to the financial products such as insurance and factoring which will protect the goods against financial and operational risks and additional suggestions for solution as well as the support of bank credits offering special advantages. The exporters can also benefit from the services that will increase their competitive power in international markets in addition to the conventional banking products.

Mehmet Büyükekşi, the Chairman of TIM, touched upon the importance of reducing the expenses of financing and access to financing in order that the exporters could become more strong against the negative conjuncture prominent in these days, and he expressed that new opportunities would be provided for the exporters regarding the issue of financing with the support of Akbank, Fibabanka, Halkbank, Vakıfbank and Kuveyt Türk, a participation bank. Büyükekşi continued as follows: “We left behind 2015 which was a harsh year in many aspects. We experienced a period when the local currency units lost their values, a decrease was observed in the prices of energy, oil and goods, and the negative conditions such as political inconsistency, civil war were intensively seen in our vicinity. As TIM, we have accelerated our works in order to become more strong against the negative conjuncture which continues to exist this year, and to increase our exportation. We believe that we have reached an important point in solving the problems encountered in the expenses of financing, which were among the most critical problems of the exporters. Up to now, we have signed significant cooperation agreements with Eximbank, Financial Institutions Association and various private banks. We will continue to support our exporters by offering privileged financing products to the members of exporters' associations under the roof our Assembly through the cooperation protocols that we have renewed and extended their scopes this year”.

Which banks offer which products?

Akbank will continue to make contribution to the exporters by offering numerous financial resources, varieties of credits, insurances, derivative instruments and all other banking products and services needed by the exporters with attractive opportunities within the scope of “Exportation Full Support Protocol” concluded between Akbank and Turkish Exporters' Assembly this year.

Within the scope of the protocol signed with Fibabanka especially for its 5th anniversary, a wide range of credits including TL/Exchange credits, spot and rotary loans and non-cash loans for the financing of the export with advantageous interest/commission rates. Moreover, the exporters will benefit from other banking products and services as well as cash management products, deposit and investment products, treasury products/option-swap-forward-derivatives exchange transactions and insurance products.

Halkbank will create an advantage in the competition within the scope of “SME Exportation Campaign Protocol” by means of suitable operation and investment credits and relevant instruments, especially Progressive Credit of European Investment Bank provided for the exporting companies which are the members of TIM and which create difference with their progressive approaches in research and development.

Kuveyt Türk Participation Bank will make a discount to the exporters in the transactions of forward, investment financing and financial renting as well as providing advantageous management credits and export financing credits while Eximbank will provide pre-shipment export credits. Moreover, the members of TIM can benefit from Interest-Free Private Pension System without Administrative Expenses Fee and Entrance and Exit Fees.

Vakıfbank will provide numerous advantages to the members of TIM with advantageous interest/commission rates, a wide range of credits and discounted foreign trade support package. In addition, it will offer 7 different Banking service package to the members of TIM under the name of “Understanding Tariffs”.