The Samoa Commercial Bank (SCB) has received international recognition by winning the Leading Partner Bank in Samoa Award for the ADB Trade Finance Programme.
The announcement was made at the Asian Development Bank (ADB) third annual Trade Finance Program (TFP) Awards during a dinner held last week, in Singapore. More than 150 guests from banks and other financial institutions around the world attended the event.
SCB’s Managing Director, Lemalu Ray Ah Liki, and Senior Manager, Tauiliili Ruth Penaia, attended the ceremony.
The TFP Awards recognised 18 leading partner banks from 17 developing member countries for their role in supporting trade in Asia and the Pacific region.
The ceremony was held during the Global Trade Review’s annual conference, which is one of the most attended trade finance conferences in Asia.
Commenting on the award, Lemalu Ray Ah Liki said it is truly an honour for SCB to receive such recognition in the programme.
“A lot of effort has been put in to its establishment and I acknowledge our staff, ADB and, most importantly, our clients for their support,” he said.
“SCB will continue to promote the programme and provide financial support to companies engaged in import and export activities.”
Samoa Commercial Bank signed under the Trade Finance Programme on 29 June 2016, after an intensive due diligence review by ADB.
The Trade Finance Programme provides loans and guarantees to partner banks to support trade transactions.
ADB approved two products, the Credit Guarantee Facility (CGF) and the Revolving Credit Facility (RCF), under the agreement with SCB and supports a wide range of transactions, from commodities and capital goods, to medical supplies and consumer goods.