UniBank educates customers on global trade

Deputy Managing Director of uniBank, John Kofi Mensah, has urged customers to be abreast with global trends to enable them to well-position their businesses.

Speaking at the bank’s Trade Week, set aside to educate customers, Mr Mensah said, the forum was to provide information on new trends in international trade as well as the features and new developments in trade finance.

The meeting touched on Letters of Credit, documentation and other international trade arrangements such as transfer of funds and money transfer.

He asked the customers to separate personal finances from business while they embarked on saving some of the profit they had made.

Mr Mensah advised them to lodge all sales and open foreign account to make it easier for them during transactions.

As part of the bank’s plan to reciprocate the relationship, the bank was considering to reduce lending rates, reduce charges and offer competitive exchange rates.

Mr Clifford Mettle, General Manager Sales and Marketing uniBank said the customers would also be educated on new codified rules of international trade, international commercial terms, especially what had gone off the rules.

He said trade related transactions were now changing and customers must ensure that they adapted to comply with local rules of the countries with which they trade.

Mr Mettle said the importance of the forum was to grow clientele through showing them the way to trade correctly as the slightest mistake in trade finance could bring down their businesses.

Source: GNA