Burgan Bank leads “Letter of Credit Transactions” Seminar for Gulf Spic Employees

Press release
Published December 13th, 2011 - 12:32 GMT
Burgan Bank
Burgan Bank

Burgan Bank recently conducted an educational banking seminar for Gulf Spic Company’s employees on the topic of “Letter of Credit Transactions”. The seminar was held at Safir International Hotel in Fintas on the 8th of December, and aimed to inform managers and department heads of the procedures, requirements and other details pertaining to the letter of credit transactions.

The interactive seminar, which was conducted by Burgan Bank’s Head of Trade Finance Mr. Vishwanaths , highlighted methods of usage of Letter of Credit, international trade dealings and documentations as well as its significance in international transactions. He also provided more insight on the legal principles involved in supplying documentary credits and a deeper understanding of world finances.

Mr. Venkat Menon, Burgan Bank’s Chief Operating Officer said: “We were delighted to conduct such a valuable seminar that would lead to the enhancement of the Gulf Spic’s employees’ knowledge of the subject and other information associated when using letter of credit in international trade transactions. It is the bank’s endeavour to participate as an educational source in similar events that would ultimately contribute to the financial expertise of the bank’s client and their employees.”

Burgan Bank continues to provide more practical training for its employees, sister companies as well as clients with an aim to constantly enhance the overall operational performance. 

Background Information

Burgan Bank

Established in 1977, Burgan Bank is the youngest conventional Bank and second largest by assets in Kuwait, with a significant focus on the corporate and financial institutions sectors, as well as having a growing retail, and private bank customer base. Burgan Bank has majority owned subsidiaries in the MENAT region supported by one of the largest regional branch networks. which include Gulf Bank Algeria - AGB (Algeria), Bank of Baghdad - BOB (Iraq & Lebanon),Tunis International Bank – TIB (Tunisia), and fully owned Burgan Bank – Turkey, (collectively known as the “Burgan Bank Group”). Furthermore, Burgan Bank has a present in the UAE through its corporate office (“Burgan Financial Services Limited) which had helped the bank to participate in multiple financing opportunities in the UAE.

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