BAKAI BANK Hong Kong has signed a Memorandum of Understanding (MOU) with the Eurasian Development Bank (EDB) to foster cooperation across treasury operations and trade finance. This agreement aligns with the bank’s strategy of acting as the bridge connecting the Central Asia market with the Asia-Pacific region. Strengthening cross-border treasury and trade capabilities Under this strategic framework, the two banks are willing to collaborate on a comprehensive suite of cross-border financial solutions designed to accelerate trade flows and optimize liquidity between the two regions. Key areas of planned cooperation include: Treasury & liquidity management: Collaboration in liquidity management initiatives. The partnership will also support the provision of currency hedging solutions for businesses in Central Asia which transact in Chinese Yuan (RMB). Funding efficiency: Exploring long-term investments, including through bonds and credit lines, and expanding the scope of high-quality collateral to optimise funding and support mutual treasury operations. Trade finance & co-financing: Facilitating 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. Andreas Meletiou, Chief executive of BAKAI BANK Hong Kong, said: "This MOU with EDB is a milestone in our mission to bridge Central Asia and the Asia-Pacific through dedicated financial intermediation. Our progress at this early stage reflects both the strength of the opportunity and our disciplined approach to building the business. As the first Central Asian bank to power specialised cross-border financial solutions in the region, we are uniquely positioned to advance RMB internationalisation in line with Hong Kong's broader strategic agenda, while delivering tailored solutions that address long-unmet corporate needs." Aitalina Zhirkova, Senior Managing Director – Head of Funding, Eurasian Development Bank, added: "This partnership with BAKAI BANK Hong Kong represents a significant step in our strategy to deepen economic ties between the two regions. 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." Re-disseminated by The Asian Banker
