Vakıf Katılım provides assurance to exporters: Türk Eximbank Participation-Based Receivables Insurance is now available at Vakıf Katılım

Türk Eximbank, Turkey's official export support institution, has launched Participation-Based Receivables Insurance products that provide collection guarantees for exporters' receivables under a partnership with Vakıf Katılım.

Vakıf Katılım, adding yet another value-added solution for its customers, has partnered with Türk Eximbank, Turkey's official export support institution, to make Participation-Based Receivables Insurance products available to more exporters. Vakıf Katılım's exporter customers will thus be able to continue their activities with confidence, unaffected by economic fluctuations in the countries to which they export or payment problems arising from buyers established in the export or domestic market.

Participation-based receivables insurance products, designed in accordance with participation banking principles, where the insurance policy is used as collateral, thereby providing faster and easier access to export financing, enable sales with terms of up to 360 days for exports and the domestic market to be conducted under receivables insurance coverage. 

We support the reduction of collection risks and the smooth management of cash flow.

Mehmet Ali AKBEN, General Manager of Vakıf Katılım, made the following statement regarding the cooperation at the signing ceremony: "We have carried out many important projects to date to contribute to the steps taken for the development of exports, which play a significant role in increasing Turkey's competitiveness in global markets, strengthening its international economic relations, and increasing production and employment. Today, we are pleased to support our exporting companies in reducing their collection risks and managing their cash flow without disruption through the cooperation we have established with Türk Eximbank on Participation-Based Receivables Insurance products. I hope this cooperation, which we believe will further strengthen our country's export potential and contribute to its sustainable growth, will be beneficial to everyone." 

Ali GÜNEY, General Manager of Türk Eximbank, also commented on the cooperation: As Türk Eximbank, Turkey's official export support institution, our goal is to support our exporters in international competition and increase the export of goods and services from our country in a way that contributes to the goal of a current account surplus for Turkey. In addition to being Turkey's largest export credit institution, we are also our country's largest receivables insurance institution. With Participation-Based Receivables Insurance, we also insure our exporters' receivables arising from interest-free sales of goods to domestic and foreign buyers, with a maximum maturity of 360 days, in line with Interest-Free Banking Principles. We aim to increase the share of our interest-free financing support in the total financing support to 10% by the end of this year. We expect this protocol signed with Vakıf Katılım to reduce the collection risks of our exporters, facilitate access to suitable financing sources with the guarantee of the insurance policies offered, and contribute to us as Türk Eximbank on this path towards our goal. I hope that our cooperation will be beneficial to both institutions, especially our country and our exporters."