At Gulf African Bank we offer the best competitive rate for your foreign currencies. Foreign exchange or forex deal is the act of buying of one currency and selling another on the local or international market using the spot rate (i.e. the current rate of a currency to another).

Features
• Currency - KES, USD, GBP, EURO, UGX, TSH, INR, JPY and others
• Types of account - high net worth individuals, corporate, non-governmental organisations, banks and financial institutions
• Eligibility - resident and non-resident
• Age Requirement- 18 years and above
• Duration - spots
• Account deposit – minimum is USD 50,000
• Mode of Deposit - transfer from saving/current account
• Delivery Channel - branches (to be credited/debited from client account) and for financial institution or bank to be transferred through interbank
• Statement - purchase swift confirmation/deal ticket

Product Pricing
• Rates are linked to spot rates obtained from forex market (information available on Reuters)

Charges
• For customers – swift charges and for banks no charges

Documentation
• Retail Customers - selling or buying instruction obtained from customer through the branches
• Corporate Customers - selling or buying instructions
• Banks - repurchase agreement

Conditions
• For Banks - credit lines limit established as agreed by the ALCO Committee
• For Retail and Corporate – availability of funds