Digital trade finance platform Contour has announced its closure, citing insufficient funding from its bank shareholders. Operations will cease on November 30, leaving users a brief window to complete transactions and download essential data.
A New York man with Ghanaian connections who engineered a trade-based money laundering (TBML) scheme to transfer illicit gains from online scams has been sentenced to 14 months in prison and ordered to pay $532,738 in restitution to 11 victims.
In the ever-evolving landscape of international finance, one pressing question looms large: Can Central Bank Digital Currencies (CBDCs) truly transform the realm of cross-border payments?
The African Export-Import Bank (Afreximbank) has signed a Memorandum of Understanding (MoU) with Morocco’s Government, represented by its Ministry of Economy and Finance. This MoU aims to establish a $1… read more →
International trade is vital to the growth of income and the country’s economy. It is, however, not possible to carry out any trade devoid of any risks.
Correspondent banking relationships (CBRs) are the linchpin of international trade and finance, enabling cross-border transactions and providing a gateway to foreign financial markets.
In the realm of trade, treasury and payments, the quest for seamless transactions and the bridging of technological divides has taken centre stage. At Sibos 2023 in Toronto, the panel “Corporate to Bank APIs for Guarantees – Are we Future Ready?” focused on the role of standardisation in driving technological development for the industry.
To help drive digital adoption in trade, Stephenson Harwood, in alliance with Virtus Law LLP, has collaborated with Singapore’s Infocomm Media Development Authority (IMDA) to release an article, TradeTrust-enabled Electronic Bills of Lading – A legal and practical analysis of their use in global trade.
Sibos 2023, held this year in Toronto, allows industry stakeholders to come together to discuss industry trends and issues.
Vinay Mendonca, Chief Growth Officer, Global Trade and Receivables Finance at HSBC, sat down with Deepesh Patel at Sibos Toronto to discuss these shifts and how they are influencing trade finance.
