Financial Institutions & Government Services

Financial Institutions & Government Services
What is the Financial Institutions and Government Department of BisB?

The Financial Institutions and Government banking department coordinates the transactions between BisB and the other banks both regionally and internationally. The F.I department ensures that the BisB maintains a competitive and profitable relationship with other financial institutions.

What functions does the FI and Govnt department at BisB perform?

The F.I department also allows their clients to open Nostro Accounts through BisB. BisB advises the clients on the competitive rates for their different options. This advice is culled from the research undertaken by the F.I department in order to ensure the profitability of the positions taken by BisB in the Nostro-Vostro accounts market. This research takes into consideration variable market trends and the major events occurring at the time.

BisB also arranges for large ticket credit facilities for Financial Institutions and Governments. Depending on the financial requirements of the client, BisB will be offering a variety of services ranging from structured financing to syndicate financing. The F.I department also acts as a consultant to the clients who are in the process of market study or setting up a business plan. BisB aids in the research and planning phase of the newly formed company and then arranges for large ticket credit facilities for them.

What are the other functions?

Other functions of the FI and Govt. Department at BisB include:

  • Negotiation on behalf of the bank all correspondent banking arrangements, principal clearing account and trade business.
  • Formulate and manage the country limits and bank lines.
  • Act as a focal point to manage existing or potential relationships with banks and all the institutions outside Bahrain.
  • Act as a liaison between operating departments and correspondent banks with the aim of availing the latest correspondent services to the bank and educating operations staff on the procedures required by correspondents in order to ensure an efficient and cost effective transactional flow.
  • Review the Bank's schedule of terms and conditions for correspondent banks on yearly basis and make necessary adjustments in line with competition.
  • Arrange to open Nostro A/C's in co-ordination with the respective department in BisB and accordance to the bank's need.
  • Conduct studies on Nostro Services offered by various banks and recommend the best offer.
  • Review and evaluate the cost of our existing Nostro accounts.
  • Review all master agreements such Murabaha and Wekala.
  • Review inter-bank limits provided by correspondent banks and liaise with treasury to make joint efforts to increase the same.
  • Assist in the preparation of Target Market Study and in setting up the business plan.
  • Activity monitor market trends and competitors' activity by maintaining adequate level of contact and keeping track of developments and major events.
  • Source structure and arrange large ticket credit facilities for FIs and Government bodies.