Doha: Doha Bank has announced the launch of new trade finance product services under Tadbeer, its integrated transaction banking platform for payment, liquidity management, reporting and other services. New features of the online platform allow customers to apply for Letter of Credit or Letter of Guarantee for domestic or import business through digital channels.
Through Tadbeer, Doha Bank wholesale banking customers can now submit electronic applications for trade products using their online banking account(s) and access, allowing them to apply digitally without having to visit physical bank branches.
“Since its launch, Tadbeer has anchored our broader and ambitious drive for digital transformation and innovation, not only for our broad portfolio of growing business banking products and services, but also for our customers’ industries and businesses. . The need for precision and agility through the digitization of corporate banking is most critical in domestic and cross-border commerce. In recent years, and even more so in light of the post-pandemic global economic recovery, global trade and supply chains have accelerated at an unprecedented rate. Through platforms like Tadbeer, leading financial institutions and lenders like Doha Bank can help mitigate the risks associated with supply chain disruptions for importers and exporters,” said Ala’ Azmi Abumughli, Director of Wholesale Banking at Doha Bank.
He added, “Adding trade finance functionality under Tadbeer is just a natural progression as part of our Global Transaction Banking capabilities and is part of our bank’s overall digitalization roadmap, helping to the operational and cost efficiency of our corporate clients, centralizing their transactions on a single consolidated platform, improving the transparency and traceability of accounting and reconciliations, and enabling the optimization of liquidity”.