Global Trade Finance Limited, the factoring joint venture in India whose shareholders are FIMBank, International Finance Corporation, member of the World Bank, Export-Import Bank of India, and Bank of Maharashtra, won the first prize for its Website in the Factors Chain International Marketing Promotion Award 2006.

GTF is a member of Factors Chain International, a

global association of international factoring companies. Factoring is a complete financial package that combines working capital financing, credit risk protection, accounts receivable bookkeeping and collection services. It is a specialised receivable financing and management service simply designed to ease the traditional problems of selling on open account. FCI, which was established in 1968, has played a major role in bringing factoring into most countries and today has a membership of 206 factoring companies operating in 59 countries.

GTF, which is headquartered in Mumbai and has four representative offices in New Delhi, Bangalore, Chennai and Hyderabad, is an unquoted company specializing in providing export-financing solutions to small and medium sized Indian exporters with a strong focus on products such as factoring and forfaiting. It is in fact the only provider of international factoring, import factoring, domestic factoring and forfaiting services under one roof in India. GTF has established itself as a market leader in international factoring providing improved value added services to its clients, and aims to be the premier export and import solution provider in India offering professional quality services on an e-commerce platform.

FIMBank is now actively pursuing its strategy to add factoring to its core activities through a network of internationally operated factoring joint venture companies. Discussions are currently underway with potential partners in Egypt, UAE and other locations.