RHB Bank Becomes First Bank in Malaysia to Offer BPO

Sept 18, 2013 (Wed): Bank Payments Obligation (BPO), a class of settlement solution in international supply chain finance, now is available as a trade instrument for RHB Bank’s wholesales and corporate customers to settle their payments with suppliers. According to a report by Bernama, RHB Bank is the first bank in the country to offer such a facility for its customers after received clearance and approval from Bank Negara.

The BPO will provide the benefits of a letter of credit in an automated environment, without the drawbacks of manual processing associated with the traditional letter of credit.