Foreign Exchange

The Company provides foreign exchange in selected markets where it serves a niche market consisting of mainly multinational, regional and national corporations, state and not-for-profit entities with corporations in foreign countries as follows:

• We provide US dollars at competitive rates compared with the rates of commercial banks in selected markets, especially when foreign exchange is scarce or unavailable and currency exposure risk is high due to possible devaluation.
  
  
• We provide local currency payments in selected markets on behalf of a parent company, affiliate or foreign creditor.
  
  
• We provide access to funds more quickly as compared with commercial banks by shortening the hold-time to clear funds.
  
  
• We narrow the "buy/sell" spreads charged by the commercial banks
  

Regulatory Environment for FX
In today’s environment for international funds transfers, compliance with US and international laws and regulations against money laundering and funding terrorist or suspicious activities are of paramount concern. US corporations and citizens must comply with the Patriot Act 2002, Bank Secrecy Act and regulations issued by the Financial Crimes Enforcement Network (FINCEN) involving funds transfers. e.g. “Know your customer” and “Source of funds” requirements. EMAC strictly follows such guidelines.