Members of the Mediterranean Bank Network, the banking association for Mediterranean banks, recently signed a Risk Participation Agreement that enables member banks to partake in credit transactions for the benefit of their clients. These include trade transactions such as letter of credit, guarantee, financing of working capital, financing the import or export of goods.

The signing of the agreement took place in Malta at the Head Office of its Maltese member bank, Bank of Valletta.

Mediterranean Bank Network, established in 1996 in the spirit of the EU’s “Barcelona Declaration: Euro-Mediterranean Partnership”, is a strategic collaboration between its members, and contributes to the internationalisation of banks and economies in the Mediterranean. To date, the total number of countries in which its member banks are present as subsidiary banks, affiliation and representative office exceed 55 countries.