TFG heard from Joel Schrevens, China Systems, shedding light on trade data. Is SWIFT MT7xx or ISO20022 the right way forward? Why didn’t the BPO take off?
For Africa, the trade finance gap has been estimated at USD 110-120 billion. TFG spoke to Afreximbank on the challenges/ opps that lie ahead.
TFG spoke to Elitza Kavrakova, Head of Institutional Clients East, and Martina Zimmerl at Raiffeisen Bank International on trade finance in CEE
2020 marks the 21st anniversary of the Certificate for Documentary Credit Specialists (CDCS). LIBF’s experts in trade finance – Mike Backhouse, Alex Gray and David Morrish – explain why the… read more →
The London Institute of Banking & Finance (LIBF), the Bankers Association for Finance and Trade (BAFT) and the International Chamber of Commerce (ICC) are celebrating the 21st birthday of the… read more →
Geneva, 2nd December 2019. Today, at the WTO’s ‘Global Trade and Blockchain Forum’, ICC, TFG and WTO released a white paper combining over 200 responses from banks, corporates, fintechs and associations in the trade sector, as well as over 20 consortia, on the broader impact that distributed ledger technology (DLT) is having on the trade industry.
The loose notion of a supply chain is as old as trade itself. To help modernize the concept and provide firms with greater transparency, efficiency, and traceability, several innovative projects… read more →
There is a common miss-conception that four or five multiple banks must be involved to manage letter of credit transactions. These multiple banks include credit issuing banks, advising banks, negotiating banks, confirming banks, and reimbursing banks. What is less understood is that these “banks” are functions, not necessarily physical banks. The trade finance functions these banks perform in a transaction can be done by separate banking institutions or by one bank under UCP 600 guidelines (Uniform Customs and Practice for Documentary Credits, ICC Publication 600).
The ICC Uniform Rules for Collections (URC522) Supplement for Electronic Presentation (eURC). On 1 July 2019, the revised internet eRules and guidelines for online trade finance documentary collections came into effect for banks, importers, exporters, and freight forwarders to prepare and present electronic records for documentary collections in lieu of or in conjunction with paper documents.
AGTB: New kid on the block. TFG heard from Daniel Gould, Deputy CEO of Anglo Gulf Trade Bank, and its new digital offering for trade finance in the UAE and MENA region. Building a trade bank from scratch without relying on legacy technologies has enabled AGTB to reimagine trade finance, building a competitive product for the corporate banking space.
