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Novel Banking Transaction Introduced in Sierra Leone

Novel Banking Transaction Introduced in Sierra Leone

Michael Mayei M. Sandy, a Sierra Leonean national has been appointed by FARGO BANKING GROUP to act as a Non Exclusive Introducing Agent with the role of introducing potential clients to the business of FARGO BANKING GROUP with effect from 8th January 2013.

Mr. Wolfgang Zulauf, CEO signed for and on behalf of FARGO BANKING GROUP.  The issue by FARGO BANKING GROUP of any of the following financial instruments (for an upfront fee) is deemed to be a “TRANSACTION”:

  1. Guarantee (BG) i.e., Bank Guarantee.
  2. Standby Letter of Credit (SBLC)
  3. Documentary Letter of Credit (DLC)
  4. Warranty (AVAL)
  5. RMA. This will be introduced at a later stage.

The foregoing financial instrument could be used to facilitate the import and export goods and services into and out of the Republic of Sierra Leone, thereby maintaining inward capital flow. Potential clients could also use these financial instruments to import refined petroleum products such as PMS, Diesel fuel, JET-A1-Kerosine, rice, cooking oil, Equipment and Machinery and also to finance projects and Natural Resources Development requiring huge financial capital out-pay.

Also as Trade Finance Consultant, Mr. Sandy will help discount the BG’s/SBLC’s at the worlds Top 50 Commercial Banks and pension funds. Auctioning is over at Bank of Sierra Leone (central bank).

Potential clients may want to contact Mr. Michael M. Sandy on +232-88324392 or via Email: wardgroupsandy.mm@gmail.com

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