Forex Facilities

Foreign exchange facilities in banks, depending on the source and period of financing, are subject to different rules and regulations. These facilities are not directly paid to the applicant but rather to the transaction party according to international trade regulations. Therefore, foreign exchange facilities systems must be capable of covering the conditions and regulations of both domestic and foreign suppliers and be precisely connected to the import of goods and services system for foreign payments.

The foreign exchange facilities system of the Arzesh platform, considering the conditions of various facilities with foreign and domestic financing sources over the years, provides the capability to register and maintain foreign exchange facilities such as finance, refinance, domestic sources, National Development Fund, and Currency Reserve Account, with their operational processes executed within the system.

Initially, the conditions for granting facilities are introduced to the system as a facilities profile, and then the process of granting and repaying the facilities continues according to the defined conditions. The information on the applicant’s projects, along with their proformas, is registered, and the approval for granting facilities is issued within the defined conditions. The general terms of the customer’s contract are also recorded in the system so that the granting of facilities can take place based on the registered contract, either through the opening of a letter of credit or the issuance of a remittance.

The calculations for the facilities files, which include specific costs, commitment fees, utilization period interest, grace period interest, and repayment period interest, are automatically performed as the file progresses in the system, and finally, the installment schedule is created.

The installment receipt from the customer is recorded in the system. Each installment can be paid in one go or in multiple stages. If there is a delay in repayment, late fees are calculated and collected from the customer. If installments are not paid on the scheduled due dates, debt identification in various categories can be performed.

The submission of Samat facilities information to the Central Bank is also carried out in this section.