Türk Eximbank and Creditwest Bank Offer Support to Foreign Trade to North Cyprus

For those living in North Cyprus or those people who are interested in seeing it develop and prosper, then the following news no doubt will be of great interest.

Türk Eximbank has introduced a credit line to a Turkish Cypriot Bank for the first time to be utilised for the imports carried out from Turkey.

With the cooperation protocol signed between Creditwest Bank and Eximbank, it will be possible to provide loans on easy terms to import goods from Turkey. The relevant cooperation protocol has been signed by the General Manager of Eximbank, Hayrettin Kaplan and the General Manager of Creditwest Bank, Dr. Süleyman Erol. With this loan agreement, made for the first time with a local bank in North Cyprus, the advance payment obligations of importers will be eliminated and through the loan offers provided to importers with lower costs the financing costs will be reduced. With this agreement Eximbank will provide low- cost loans for the importers that import Turkish origin products.

EROL: A special offer for local importers.

TürkEximbank is a state-owned bank aiming to increase the foreign trade and has been acting as Turkey’s official import-export incentive instrument since 1987. About the loan agreement, Dr. Süleyman Erol stated that “Türk Eximbank, has a leading role in increasing the export activities of Turkey via its export activities in Central and Western Asian Republics, Russia, in Eastern Europe and African countries, and we will benefit from this experience to develop the import volume of North Cyprus. Furthermore, the strong financial structure of Creditwest Bank and the high credit ratings received in the last 5 years had a great influence on this cooperation.”

For more information of Creditwest bank click here to view their website.

General Manager of Creditwest Bank, Dr. Süleyman Erol and General Manager of Eximbank, Hayrettin Kaplan