Kuveyt Türk has entered into a strategic cooperation with Türk Eximbank to help exporters secure their receivables through a participation-based export credit insurance product.
According to a statement from Kuveyt Türk, the collaboration enables Türk Eximbank’s “Participation-Based Credit Insurance” product to be offered at all Kuveyt Türk branches, making it more accessible to exporters across the country.
The product, launched under an agency agreement between the two institutions, allows exporters to insure their deferred payment exports under the guarantee of Türk Eximbank. This helps mitigate collection risks while offering the insurance policy as collateral to gain easier access to export financing.
Reducing Export Risk and Expanding Market Reach
Türk Eximbank’s Credit Insurance covers commercial and political risks, enabling exporters to make deferred sales up to 360 days to buyers in eligible countries. This not only protects exporters’ financial operations but also encourages expansion into new international markets with more confidence.
By accepting the insurance policy as collateral, Kuveyt Türk also provides financing on favorable terms, allowing exporters to both secure their receivables and access finance more quickly and easily.
This partnership supports Turkey’s export growth goals, empowering exporters to take more secure and strategic steps in international trade.
“We Offer Innovative Trade Solutions”
Ahmet Albayrak, Deputy General Manager of Corporate and Commercial Banking at Kuveyt Türk, emphasized their commitment to innovation in financial services for exporters:
“We continue to lead the sector with solutions that support foreign trade. By offering Türk Eximbank’s Participation-Based Credit Insurance in all our branches, we help exporters secure their receivables and access financing faster.”
He added:
“By accepting this insurance as collateral, we are the leading bank in offering export financing. At Kuveyt Türk, we will continue supporting Turkey’s export figures through pioneering solutions in foreign trade.”
Source: Anadolu Ajansı/ Prepared by: İlayda Gök