Citibank in Bahrain has launched a new suite of trade finance products and services that includes letters of credit (L/Cs).

The suite is delivered under the banks programme for small- and medium-sized enterprises (SMEs) and is known as CitiBusiness. It has been running for several years elsewhere in the world.

Services

According to Citibank, the programme provides smaller firms with many of the benefits usually reserved for large corporates as well as access to the bank's multinational presence in more than 100 countries.

Trade finance services on offer under the programme include L/Cs, guarantees and import and export document collection.

Benefits

Citibank says it is specifically targeting trading businesses based in Bahrain as well as SMEs in the construction, tourism and facility management sectors.

The CitiBusiness programme is also aimed at manufacturing SMEs and professional services firms.

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