FAFB in banking stands for Finance Against Foreign Bills.
Based on the reference provided, FAFB is an acronym for Finance Against Foreign Bills. It's related to trade finance. Another related term is FAPC (Finance Against Packing Credit). Both support international trade activities.
Here's a simple breakdown:
- FAFB (Finance Against Foreign Bills): This involves providing financial assistance against bills related to foreign transactions. In simpler terms, banks provide funds against invoices or bills for goods that have already been shipped to a foreign buyer. This helps the exporter receive payment sooner.
