Held by Videoconference, President Mehmet Şahin attended the signing ceremony "Paraf Secured Commercial Credit Card Supply Chain Financing" Agreement between Turkey Chambers and Commodity Exchanges Association (TOBB) and Halkbank.
Our President of the Board of Directors, Mehmet Şahin, took his turn in the aforementioned meeting; He shared information about the economic and social situation of our Kızıltepe District, the activities of the Commodity Exchange. In order to provide more service to our members, he requested the opening of Kızıltepe Halk Bank Branch in Kızıltepe Grain Trade Center. Taking into account the demand, Halkbank General Manager Osman Arslan said that he would do the best to open a branch.
Between Halkbank and Turkey Union of Chambers and Commodity Exchanges (TOBB), "Paraf Supply Chain Financing Agreement with Secured Commercial Credit Card" was signed. 1.5 million Businesses under the TOBB roof will be able to benefit from the agreement, which offers collection guarantee to the seller and payment flexibility to the buyer with up to 18 months maturity.
The ceremony, in which the agreement was signed between TOBB and Halkbank, was held online.
In his speech there, TOBB President M. Rifat Hisarcıklıoğlu stated that thanks to the Halkbank Paraf commercial credit card, the problems experienced by the tradesmen in transactions such as purchasing and selling goods, withdrawing loans from banks and transactions such as check and bills will come to an end.
Stating that this card enables the supply chain to operate safely, Hisarcıklıoğlu continued as follows:
"This card will open the way for buyers and sellers to shop safely. Thus, we will sell our goods in confidence without following check-bills or dealing with collection problems. Those who want to do not have to worry about obtaining a loan from the bank or accepting the seller's own check-bill. He will sell his goods safely and collect his money from the bank without worrying about who he is. Thus, both the buyer and the seller will ease their cash flows.”
Hisarcıklıoğlu said that this is an example of a win-win approach and that this card also offers other discounts and advantageous campaigns to its members.
Stating that Halkbank has added TOBB's logo to this credit card by making another nice gesture, Hisarcıklıoğlu said, "All members of our council will be able to benefit from this system both as a seller and as a buyer, within the limits to be determined by Halkbank according to turnover and credibility. This system will also help to reduce loan rates of SMEs. The decreasing financing costs will encourage SMEs for investment and production. The financial stability of SMEs and consequently of our country will be strengthened.
Opportunity of payment to the buyer up to 18 months
Halkbank General Manager Osman Arslan also emphasized that with the agreement, as the bank of the people, they brought collection guarantee to the seller in the supply chain and the flexibility of payment to the buyer up to 18 months.
Referring to the advantages they will offer to TOBB members, Arslan said:
"The card of this agreement will be the Paraf SME Credit Card with the TOBB logo on it. Paraf SME Credit Card with the TOBB logo will provide flexible installments and maturity opportunities for its owners in their purchases. On the other hand, Paraf SME POS is an advantageous POS price model for member businesses. With these services, which will regulate the cash flow between TOBB member buyers and sellers, all commercial transactions in the supply chain will be carried out with the Halkbank guarantee and Paraf advantages. "
Arslan said Paraf Craftsmen, Paraf SMEs with Paraf Business Cards family consisting of all campaigns and opportunities for the reported 1.5 million TOBB members, the locomotive of Turkey’s economy, also will be available for business.
Stating that with this agreement, the coverage area of responsible banking concepts will expand further, Arslan said, "As it has been for 82 years, today it allows us to support the real sector for more production, more employment and export. This agreement allows us to get closer to our goals. We have entered with such a big step. From now on, we will proceed with big and firm steps. As Halkbank, we will achieve all our goals one by one to contribute more to our country's economy.”
Advantages provided for selling and buying firms
Vendors will have the opportunity to sell goods and services in cash, installment or term and to make sales with POS in 4 different models in multiple terms according to the cash cycles of the customers.
Operational risk and financing costs will be eliminated thanks to collections with Paraf Commercial Credit Cards instead of money transfers, checks, promissory notes, and letters of guarantee.
With the special Paraf Commercial Credit Card limit that can be used only for the seller company, the collections of the seller companies will be secured. When necessary, customer loyalty will be ensured with a limit definition valid only at the member businesses, working in closed circuit.
By accepting the amounts arising from POS sales as collateral, a more cost-effective loan will be provided, as well as ease of accounting and recording.
Buyer companies, on the other hand, will provide easy access to financing and will have the opportunity to purchase cost-free, term goods.
In addition to the possibility of instalment, maturity or flexible maturity up to 540 days in purchases of goods and services, instead of loans, checks, bills and letters of guarantee, Paraf Commercial Credit Cards will provide easy and cost-effective trading and operational risks such as cash carrying risks will be eliminated.
Buyers will have the convenience of regularly tracking and accounting records of goods purchases and payments.
