In trade finance compliance, getting the details right matters. Regulators around the world, the financial institutions involved and, of course, bank clients, have a keen interest in ensuring that trade transactions do what they are designed to do: ensure timely payment and prevent fraud, all in line with constantly changing international regulations. As that suggests, there is always the potential for a mistake to cost the bank a great deal of money and put a major dent in its reputation. That threat, in turn, can put a lot of pressure on staff.
The International Chamber of Commerce (ICC) has recently concluded the Wave 1 Pilot, a critical step in shaping the future of sustainable trade finance.
Following the EBRD 2023 Annual Meeting and Business Forum in Samarkand, Uzbekistan, TFG’s Brian Canup (BC) spoke with Nino Masurashvili (NM), Deputy CEO, Chief Risk Officer, TBC Bank Georgia, who was recognised with the EBRD Sustainability Silver Award. Read this two-part interview to learn more about TBC Bank Georgia, why they were awarded the EBRD Sustainability Silver Award, and their plan for continuing to support Georgian sustainability.
Central Bank Digital Currencies (CBDCs) have infiltrated the agenda of countless innovation meetings at the world’s central banks.
Trade Finance Global (TFG) is proud to reaffirm its partnership with Trade4MSMEs in light of the forthcoming World Trade Organization (WTO) MSME Day on 27 June 2023.
When the topic is fraud and financial crime, trade finance companies are certainly on high alert. Every transaction made in this multi-trillion-dollar ecosystem must be checked for sanction lists for countries as well as corporations.
This article focuses on correspondent banking, its role in international trade, and shortfalls of the traditional model that adversely affect lower-income countries, impeding economic development and the advancement of financial inclusion.
Today’s fashion industry is in need of its very own digital silk road that can revolutionise its global trade with speed, reliance and efficiency.
Much like the rest of the global economy, the world of correspondent banking has undergone rapid changes in recent years. Though we have started to witness the changing dynamics of correspondent banking relationships, we have yet to truly understand their long-term impacts. TFG heard from leaders at banking association BAFT, who have recently partnered with TFG for the launch of their correspondent banking hub.
At the 4th National Summit Trade Finance for Inclusive Growth organised by ASSOCHAM, the state of global trade finance was discussed by industry leaders. One point came across clearly: the path to growing the Indian economy is easy access to trade finance. Deepesh Patel, TFG’s Editorial Director, recently joined the ASSOCHAM Trade Finance Steering committee, helping to provide insights into market activities and trends.
