KATHMANDU: Nabil Bank has established an arrangement with the US Department of Agriculture (USDA) to enlist the bank under export credit guarantee program GSM 102 administered by the USDA.
Nabil Bank is the first and only bank from Nepal to be listed under this program after rigorous Due Diligence Audit from USDA office.
With this arrangement, Nabil bank will enjoy an Export Credit Guarantee line limits from USDA.
Letter of Credits issued by Nabil Bank on behalf of its customers to import goods under USDA program will have no further requirement of adding confirmation from third parties.
Furthermore, US exporters under this arrangement can avail financing facilities from US banks with underlying irrevocable Letter of Credit issued by Nabil Bank.
Getting listed under Export Credit Guarantee Program of state run organization of the United States, USDA (United States Department of Agriculture) is another milestone for Nabil bank in its effort to establish its international outreach and recognition at a global stage.
Nabil Bank Limited is the nation’s first private sector bank, established in 1984 AD,
The Bank serves a complete line of commercial banking products through branch banking, treasury, trade, cards, remittance and investment banking.
The Bank operates through a network of 148 branch offices, 187 ATMs, numerous POS terminals, remittance agents spread across the nation and over 170 international correspondent banking relationships.