Bakai Bank and EDB ink trade finance and cross-border treasury deal

The cooperation will bridge Central Asia with the Asia-Pacific region.

Bakai Bank Hong Kong signed a Memorandum of Understanding with the Eurasian Development Bank (EDB) to advance treasury operations and trade finance between Central Asia and Asia-Pacific markets.

Under the memorandum, signed 9 November, the banks will collaborate on a comprehensive suite of cross-border financial solutions that accelerate trade flows and optimise liquidity in both markets.

The cooperation will tackle Treasury & Liquidity Management, Funding Efficiency and Trade Finance & Co-Financing.

The banks will initiate liquidity management projects and support currency hedging solutions for Central Asian businesses transacting in Chinese Yuan (RMB). They will also explore long-term investments and expand the scope of high-quality collateral.

The banks will also facilitate cross-border trade through the development of trade facilities that support regional commerce and infrastructure.

“As the first Central Asian bank to power specialised cross-border financial solutions in the region, we are uniquely positioned to advance RMB internationalisation in line with Hong Kong’s broader strategic agenda, whilst delivering tailored solutions that address long-unmet corporate needs,” said Andreas Meletiou, CEO of BAKAI Bank.