iBEX Global, one of the leading international trade finance services providers set up in the USA, will open a branch in Sri Lanka next month.
At an event at the Galle Face Hotel, Chairman and founder of iBEX Global, based in Atlanta, Georgia, Maverick Robinson said that Sri Lanka is the third country after UAE to launch their operations.
Chairman Maverick Robinson with MD Jayamal Hewage
“We have been following the developments of Sri Lanka since August 2022 and appointed Jayamal Hewage as our Managing Director,” he said.
Hewage is also the Group Managing Director of Jayamal Holdings Group of Companies.
Robinson said that iBEX Global was set up four years ago by Robinson in the USA during the thick of the COVID pandemic at a time when companies were shutting down.
“We saw a huge vacuum for logistic and international trade finance services mainly to import personal protective clothing (PPE) like masks from countries such as Malaysia and Indonesia. During that time the supply chains and support services were completely in disarray but we quickly gathered a professional team and created and opened a new supply chain helping to save and protect the lives of many.
“By doing this we proved that there is opportunity in a crisis and we see similarities in Sri Lanka and this is why we decided to open here. Our primary focus centers on providing international trade finance services tailored to each customer’s unique needs,” Robinson said.
Sri Lanka’s total exports are around US dollars 11 billion, Gem USD 200 million while its spice exports (which are much sought after in the world) alone account for around USD 1 billion.
“However, this is not Sri Lanka’s true export potential and we see with better marketing networks, attractive packaging and product financing (of which we are experts) these exports can be increased by almost 20% in less than a year,” he said.
Managing Director Jayamal Hewage said, “In Sri Lanka, medium, small and macro size companies and those who team up with us will be provided technical advice on product development and superior packaging and other technical advice all free of charge.”
He said iBEX Global can even offer financing up to USD 10 million for companies to develop their product range.
“They would also be linked with new global markets that were not accessible to them. Our Services also include Standby Letter of Credit, Bank Guarantees, Letter of Credit, RWA Documents, Documentary Letter Credit and many other similar services.”
– SS
