SBYB offers a number of distinguished commercial services that meet the needs of various companies and institutions in accordance with the provisions and principles of Islamic Sharia. SBYB works to meet the requirements of commercial companies through a range of services that help these companies meet the needs and requirements of the market, contributing to strengthening the national economy.
SBYB is also considered one of the leading and distinguished banks in the Yemeni banking sector in providing foreign trade services through a professional and highly qualified staff that keeps pace with the highest international requirements in the field of international trade. SBYB provides its valued customers with these services as means of payment in import and export operations, such as: documentary credits, documentary collections, external letters of guarantee, as well as external transfers through a network of correspondents around the world. In addition to the necessary technical consultations related to means of payment in international trade in accordance with the highest requirements, standards, and relevant international customs issued by the International Chamber of Commerce.
Documentary Credits:
Documentary credits are considered the most important means of payment in international trade, as they provide a form of guarantee for the rights of the transacting parties. SBYB issues a written undertaking in favor of the beneficiary, based on the customer's (the opener of the credit) request. Payment is only made based on documents that meet the terms of the credit and in accordance with international customs and standards for documentary credits.
SBYB provides documentary credit services (import or export) by issuing all types of credits in accordance with the unified international standards and practices issued by the International Chamber of Commerce, with high efficiency, security, speed and accuracy through a network of correspondents around the world.
Documentary Collections:
Documentary collections represent a means of payment in international trade. They are considered more secure than advance payment and open accounts, and less expensive than documentary credits. SBYB receives incoming documentary collections of various types from most countries around the world. SBYB also issues outgoing documentary collections to most countries in accordance with the unified international standards issued by the International Chamber of Commerce for documentary collections. These standards are implemented with high efficiency, security, speed, and accuracy through our network of correspondents around the world.
International wires (SWIFT):
The bank offers outgoing and incoming international bank transfer services to meet the needs of its customers and keep pace with modern banking technology. This service is implemented through the secure SWIFT global transfer system, which enables transfers to both local and international banks to be processed efficiently, securely, quickly, and accurately, with competitive transfer fees, via a network of correspondents around the world.
