Ransenari Import-Export Bank

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The Ransenari Import-Export Bank (commonly abbreviated as RIXB) is the official import and export credit agency of the government of the Kingdom of Ransenar. Operating as a wholly-owned government corporation created by RD-IV, the Bank assists in financing and facilitating the exports of goods and services from Ransenar and the import of necessary goods and services from Raspur Pact partners and other nations around Micras.

The Bank is required not to compete with private-sector lenders, but rather provides financing for transactions that would otherwise not occur because commercial lenders are either unable or unwilling to accept the political or commercial risks inherent in the deal.

Its current acting chairman and president is the current Minister of Trade and Finance Soroush Karimi, awaiting the appointment of a new president.

History

The bank was established in 1673 AN by Royal Decree.

The cost and effectiveness of the bank are controversial. While current RIXB projects will earn the Ransenari government an average of R€ 500 million per year, an alternative analysis from the Ministry of Trade and Finance found that the program would lose about R€200 million during the same period, partly due to discrepancies in how credit risk is accounted for.

The creation of the Bank, along with several other government-owned enterprises, stemming from RD-IV has caused a lot of controversy within the Transitional Government, with many arguing that it contravenes the free market precepts of Aldricism. Some within the IDP and other political parties demand its termination, calling it "corporate welfare".

Organization

The Ransenari Import-Export Bank is a government agency that provides a variety of loan, guarantee, and insurance products intended to aid the export of Ransenari goods and services.

The mission of the Bank is to create and sustain Ransenari jobs by financing sales of Ransenari exports to international buyers. The Bank also helps finance the acquisition of goods and services from the Raspur Pact and other Ransenari trading partners.

Offices

The Ransenari Import-Export Bank has offices in the following cities:

See Also