Bakai Bank Hong Kong and Eurasian Development Bank sign MOU on cross-border trade
Bakai Bank Hong Kong has signed a memorandum of understanding with the Eurasian Development Bank to collaborate on cross-border financial solutions. The deal aims to accelerate trade flows between Central Asia and the Asia-Pacific, focusing on treasury management, funding efficiency and trade facili
Bakai Bank Hong Kong has signed a memorandum of understanding (MOU) with the Eurasian Development Bank (EDB) to collaborate on cross-border financial solutions, aiming to accelerate trade flows and optimise liquidity between the two regions.
“This MOU with EDB is a milestone in our mission to bridge Central Asia and the Asia-Pacific through dedicated financial intermediation,” said Bakai Bank Hong Kong chief executive Andreas Meletiou.
The MOU focuses on three key areas. The first is collaboration in treasury and liquidity management, including supporting currency hedging solutions for businesses in Central Asia that transact in Chinese yuan.
On improving funding efficiency, the partnership allows long-term investments through bonds and credit lines, as well as high-quality collateral to optimise funding and support mutual treasury operations.
Additionally, the two banks will facilitate cross-border trade through letters of credit, bank guarantees, cross-border settlement solutions, multilateral co-financing, and other trade facilities to support regional commerce and infrastructure initiatives.
“By leveraging Bakai Bank’s presence in Hong Kong alongside EDB’s extensive regional footprint, we share a firm commitment to delivering innovative trade finance and treasury solutions that will facilitate seamless cross-border trade and capital flows,” said Aitalina Zhirkova, EDB’s senior managing director – head of funding.