Bakai Bank HK signs MOU with Eurasian Development Bank on cross-border trade

Bakai Bank Hong Kong has signed a memorandum of understanding with the Eurasian Development Bank (EDB) on Monday to collaborate on cross-border financial solutions to accelerate trade flows and optimize 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, including collaboration in treasury and liquidity management, such as 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 optimize 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.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓