TOSAN Trade Finance

Nowadays, international trade is vital in different countries to the extent that it is actually impossible or very difficult for a country to continue business without import penetration and possibility of export. International trade causes convergence and dependency of countries in a way that it has removed restrictions in geographical borders.

Participating in world trade in the new era, help countries to survive. These days, only countries can gain benefit of world trade that is able to capture international markets with high technology and massive production. These countries can determine their target markets and offer their products based on their needs.

Banks as financial institutes play an important role in international trade and foreign exchanges among different countries. Banks as financial dealers, besides participating in domestic economy, play an important role in international economy and relation between customers and domestic and international sellers (dealers). Banks have the main role in reducing risks for domestic and international buyers and sellers through giving services like documentary credits, foreign bonds, documentary bills, domestic and international foreign drafts and etc

In order to give optimum facilities from banks to customers, TOSAN provides the services within foreign exchange system. This system emphasizes on unique features such as having multiple foreign exchanges, being multilingual and multicultural, flexibility and localization. Moreover, it facilitates calculating of all charges actively, swift define, accrual basis accounting and etc.

There are different types of foreign products in TOSAN including:

• Documentary Credits (import/ export/ domestic)
• Foreign drafts and their types (buying and selling foreign exchange)
• Foreign Bonds (export/ import)
• Bills of Exchange
• Line of Credit and information about brokers
• Management of different charges
• Swift interface
• Dealing room
• Accounting and foreign exchanges
• Dealing with Central Bank (reporting import order registration)
• Reporting Nashr 2, Reporting BOP and broker relations