documentary credits quickly dematerialized via PortNet

Banks. Foreign trade: documentary credits quickly dematerialized via PortNet


13/11/2018 08:00

A first in the world. The Single Window of Foreign Trade, PortNet, joins forces with the banking sector to set up an innovative solution for the management of paperless documentary credits. Three agreements were signed on Monday with three banks of the place: AWB, CIH and CDM.

The announcement was made on the sidelines of the inaugural meeting of the Fourth annual Single-Window conference with PortNet, Tuesday 12 November in Casablanca. With the name "Tr @ the Direct", the new solution is intended as a unified multibank platform for multiple users that is accessible to all companies active in the import and export sector. "It will provide both banks and PortNet users with better management, using end-to-end dematerialisation, the entire life cycle of Documentary Credits, Letters of Credit, Letters of Credit Standby, Letters Document transfer as well as some non-documentary operations", emphasizes one on the side of PortNet.

The new service will be the subject of a preliminary study. Framework agreements were ratified on the sidelines of the Monday meeting in Casablanca between, on the one hand, the company responsible for the management of the Single Window, PORTNET SA and, on the other hand, three banks of the site: Attijariwafa bank, CIH Bank and Crédit du Maroc. "At the end of this pilot phase involving these three banks, the new service will be generalized to all banks in the area," said Nadia Laraki, CEO of ANP and chairman of the PORTNET Board of Directors. ..

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