Banking of foreign economic activity of enterprises on the example of FUIB JSC

Abstract

The purpose of the article is to develop recommendations for improving the banking services of foreign economic entities. In accordance with the set goal, the task was set: to determine the main banking services provided to the subjects of foreign economic activity, to analyze the state of servicing the foreign economic activity of enterprises in FUIB JSC, to develop recommendations for its improvement. This article reveals that banking services for foreign economic activity of enterprises includes a wide range of operations, in particular, maintaining customer accounts in foreign currency, conducting international settlements for export-import operations, various forms of financing foreign economic activity, etc. We conclude that the specifics of bank financing of foreign economic activity of enterprises is that the loan is provided mainly in foreign currency, respectively, the bank must have a currency license, the lending cycle is tied to the cycle of trade, the bank must have reliable foreign banks -contractors and be a member of SWIFT and other international payment systems, as well as must have qualified personnel in the field of foreign economic activity. This research determines that FUIB JSC does not offer specialized products for foreign trade entities, except for the import of Belarusian equipment. At the same time, the bank focuses on consulting services for foreign exchange transactions and positions itself as a bank for servicing international operations of heavy machinery, fuel and energy complex, manufacturers of mechanical and electrical equipment, metallurgical enterprises. As a result, in order to improve the service, we offered the researched bank to create a club on the basis of existing clients-subjects of foreign economic activity, as well as to use it as a tool to attract new clients. In terms of its content, it will be a community of exporters and importers served by the bank, for which events will be organized to establish international relations, educational activities on various issues of effective foreign economic activity, a specialized trading portal will be created.