UMB affirms strong support for export trade

Benjamin Amenumey-Acting CEO, UMB

Universal Merchant Bank (UMB) has organised a special trade and Treasury session for clients and potential customers operating in the country’s export trade sector.

The colloquium reiterated the bank’s desire to improve its financial and advisory commitment to both existing and prospective clients toward the creation of sustainable small- and medium-scale businesses in the export aspect of the shipping business.

Participants were taken through the bank’s trade and Treasury offerings for exporters and how those products can be accessed to grow their business.

Acting Chief Executive Officer of the bank, Benjamin Amenumey, told journalists that the event was to educate customers in the export business on laws governing the trade, and also introduce them to tailored products that can grow their business.

He said the colloquium was also in line with UMB’s mission as an indigenous trade-oriented financial institution.

He said: “We realise that we need to encourage our customers to do more exports, because that works well for our economy.

“We came out with this event to update our customers on the products and services we have regarding exports and imports, or trade generally.”

He added: “We also wanted to refresh them about the directives and rules and laws which govern export and import trade in general, to solicit feedback on problems peculiar to their trade so we can provide solutions for them”.

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Mr. Amenumey said the event was also to enable the bank gather first-hand information about the needs and challenges of their businesses, and match them with innovative products and solutions.

For instance, he said, the bank will soon roll out its Union Pay International (UPI) Card—a Chinese card to address the challenges faced by customers who do business from China using the Visa Card.

“When our customers go to China, they sometimes find it problematic using visa cards so we will soon be launching the Union Pay card that will bring some flexibility to those who usually trade with the Asian countries, especially China,” Mr. Amenumey explained.

He also indicated: “As a bank, we have solutions to all trade and business problems; so, once a customer has a problem with exchange issues, we have various solutions they can tap to resolve those problems.

“We also have Treasury products that will satisfy the individual needs of our customers.”

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