AFPAY and Compliance Workshop

Afreximbank Trade Payment Services (AFPAY) product is designed to facilitate settlement of international trade on open account terms on behalf of identified African financial institutions and corporates. Considering the importance of compliance and the risks that come with cross-border payments, the AFPAY product is supported by sound compliance requirements, processes and practices.

The workshop, presented by Afreximbank focuses on all aspects of the Afreximbank Trade Payment Services (AFPAY) which include:

• Key aspects of the Afreximbank Trade Payment Services (AFPAY).
• Main services offered under Afreximbank Trade Payment Services (AFPAY).
• The Compliance framework that seeks to protect the transacting banks from financial crimes risks and the related risks like reputational risks.
• Financial crime risk management i.e., how to reduce the risk, compliance and due diligence as well as best practices.
• Overview of the Afreximbank onboarding requirements and processes for the transacting bank and the related corporates.

The workshop aims to build a better relationship through improved service offering between Afreximbank and the clients (both the transacting bank and the corporates).