Financial Advisory

Guaranty Trust Bank (Tanzania) Limited provides financial advisory services, helping to create value for you and your business. We offer sound financial advisory services to customers.

Some of the Financial Advisory Services we offer include:

  • Debtor Services.
  • Creditor Advisory Services.
  • Bank Advisory Services.

Foreign Current Transfer

Settle asset insurance, dividend remittance, loan obligations, suppliers’ commitments, utility bills and other FX transactions conveniently and with ease. This is done through the use of our SWIFT CODE GTBITZTZ.

  • Inward Transfers
    Funds are received from abroad through our correspondent banks for further credit into our customers’ accounts with us in Tanzania.
  • Outward Transfers
    Customers can transfer funds from their ordinary Foreign Currency accounts to beneficiary’s offshore.

What you’ll need?

  • A dully filled and signed Foreign Funds Transfer request form.
  • A copy of an invoice you need to pay for.

Benefits to Customers

  • Prompt and secure way of transferring funds to and from Tanzania.
  • Ability to make foreign currency transactions conveniently from the comfort of your home, office or anywhere in the world with our online platforms (GAPs and Internet Banking) in US Dollars, British Pounds or Euro through our platforms.

Trade Finance

GTBank Trade Finance products cater for the Export and Import clients. Our Relationship Managers who are in direct contact with customers provide solutions to meet our customer needs.

Served by seasoned personnel in Trade Finance, a variety of products are offered by the department, ably assisted by SWIFT and Treasury, equipped with Reuters on-line trading (Foreign Exchange Dealing Room). We additionally have correspondents in all major financial centres of the world.

Letter of Credit

A Letter of Credit facility allows importers to offer secure payment terms to their suppliers overseas, while simultaneously ensuring the prompt delivery of the goods and services they require. We offer our import clients the facility of opening both confirmed and unconfirmed Letters of Credit depending upon their need. We also arrange for confirmation of Letters of Credit by a range of world-class international banking institutions.

Import Letters of Credit

The Documentary Collections service offers exporters both security and comfort, since GTBank Trade Finance products takes care of all their document-handling needs on behalf of both export and import clients.

Export Letters of Credit

GTBank advises and confirms Export Letters of Credit helping exporters mitigate the risks associated with exporting to a new importing country or to new importers.

Documentary Collections

The Documentary Collections service offers exporters both security and comfort, since GTBank takes care of all their document-handling needs on behalf of both export and import clients.

Import Documentary Collections

Import Documentary Collections are payment mechanisms, less expensive than Letters of Credit but provide more security to the supplier than open account transactions. Import Documentary Collections boost trading relationships by reassuring suppliers of their payment and safeguards the importer’s title to goods. The two most common conditions for release are:

Documents against payment (D/P): documents released only if the importer makes immediate payment.

Documents against acceptance (D/A): documents released only if the importer accepts the accompanying draft thereby incurring an obligation to pay at a specified future date.

Export Documentary Collections

Export Documentary Collections simplify the process of receiving payments from importers while also safeguarding the supplier’s title to the goods until payment has been received or documents have been accepted for payment.

Clean Collections

GTBank through this service handles collections upon such financial documents as cheques, promissory notes, and bills of exchange.

Negotiations of Export Bills

This service allows GTBank to negotiate certain forms of export documentation on behalf of its clients, thus making it easier and faster for the client to realize the proceeds of the documentation (usually immediately upon submission of the documentation at the Bank). Once the documentation is received by GTBank, it is forwarded to the importer’s bank, from where funds will be collected at a later date. This product has been priced attractively with the interests of our clients in mind. This service helps exporters who wish to receive immediate value for goods shipped under a Letter of Credit or Collection. The customer also gets to avoid the delays associated with cross-border presentation, mitigates cross-border and foreign bank risks.

Bill Avalisation

Bill Avalisation is the bank’s undertaking on behalf of the importer, to honour, payments of Bills of Exchange from the supplier. This undertaking is similar to that of a Letter of Credit and hence provides the same comfort to the supplier but with an easier structure for the importer. This is applicable to both domestic and international trade. GTBank receives import documents with a draft drawn on the Importer. Upon acceptance, we guarantee the draft, release import documents to the importer and forward the draft to the supplier’s bank, thus enabling fast access to funds by the supplier.

Supplier’s Credit Financing

The GTBank Trade Finance solution involves inter-mediating trade flows between exporters and importers by paying the exporters at sight or at an agreed date. The Importer may be able to negotiate a lower purchase price and transactions can be re-structured as trade payables instead of short-term bank debt.

Post-Import Financing

The service helps importers who wish to match cash outflows with receivables. GTBank can arrange post import finance to pay-off import obligations allowing the importer concentrate on making sales to meet the re-scheduled settlement date(s).