In American English, we typically use the term "Consultations" in reference to meetings which take place for the purpose of consultation or "... deliberation, discussion, or decision" (1) between an organization and it's clients and/or consultants within or external to it.

Exploratory Meetings are generally conducted for the same purposes, yet less so with the inclusion of clients and consultants outside of an organization. Exploratory meetings are generally held between stakeholders within an organization.

Although the terms are somewhat synoymous, and quite often Arabic-English legal translations should find a TT term which is synoymous with the Arabic doublet, I would still opt to keep the two seperate in this case if the TT reader is really familiar with financial terminology.

We generally use the term "consultation" as a noun in reference to those meetings which take place for the sake of consultation.