BERNAMA › NEWS
CIMB Bank Completes Malaysia's First Cross-border Bank Payment Obligation
Introduced by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) and the International Chamber of Commerce (ICC) back in 2013, BPO is an undertaking of a buyer's bank to pay a seller's bank upon successful data matching on the SWIFT's unified electronic platform. It is a trade transformer that combines the best of both Letter of Credit and Open Account Trade in terms of risk mitigation and flexibility in facilitating international trade. In addition to leading the first BPO in Malaysia, CIMB Bank is also proud to offer post-shipment financing for BPO transaction in helping customers to unlock trapped cash and generate liquidity to fuel business growth.
For the full text, click here.
news coverage in our Newswire service.
Previous Top Stories
Other News Headlines
- Ex-Members' Judicial Review Application Withdrawal A Vindication For SUPP - Party Sec-Gen- politic
- Malaysia's Unemployment Rate Remains Unchanged At 2.9 Per Cent For May- business
- Commonwealth Games News In Brief- sports
- MH17: Learning The Ukraine Conflict- features
- Ukrainian Cabinet Appoints Acting PM- world
Most Read News
Pertubuhan Berita Nasional Malaysia,
Wisma BERNAMA,No 28, Jalan 1/65A,
Off Jalan Tun Razak, 50400 Kuala Lumpur, Malaysia.
Tel : 603-2693 9933 ( General Line )
E-mel : email@example.com
This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
Best viewed in Firefox 8.0 & Internet Explorer 8.0 with 1024 x 768 resolution