The Electronic Trade Documents Bill has today received Royal Assent, and is officially an act of law (the Electronic Trade Documents Act), promising to transform the way international trade is conducted electronically.
Back in January, Trade Finance Global (TFG) reached out to trade finance experts to pick their brains about what to expect in the industry in 2023. Entering the year, there was a lot of uncertainty surrounding the larger economic environment. Some people were optimistic, some people were pessimistic, but everyone was open about being unsure.
Micro, small and medium-sized businesses are the backbone of employment and economic growth in West Africa. How can short-term credit insurance help these businesses to grow and prosper?
Correspondent banking is a cornerstone of international finance, offering a critical conduit for transnational transactions and financial services. But as with any large, intricate and partially opaque financial system that relies on mutual trust, it is also a prime target for illicit exploitation, particularly money laundering.
The Electronic Trade Documents Act (ETDA) is soon to be granted Royal Assent and will be implemented two months thereafter. This Act is the result of years of dedicated effort… read more →
The International Trade and Forfaiting Association’s (ITFA) Digital Negotiable Instruments (DNI) Initiative Day, hosted in London on 12 July 2023, served as an important platform for the future of trade finance.
Globalisation is not dead, contrary to recent claims. Nowhere is this more evident than in global trade, where high-growth trade corridors in Asia, Africa and the Middle East are set to outpace the global average by up to four percentage points.
Cross-border payments are an essential part of the global economy. Historically, the cost and potential delay of processing have added unnecessary friction to commerce. As payments wait to be settled, gaps in visibility can frustrate both sides of the transaction.
In the ever-revolving landscape of trade payments, a notable trend is gaining momentum as the global financial industry embraces ISO 20022 – a data-rich and interoperable universal messaging format set to replace the legacy Message Text (MT) that has prevailed for years.
To learn more about the latest updates on MLETR adoption in the G7 countries and emerging markets, Trade Finance Global spoke with Luca Castellani, legal officer at the Secretariat of the United Nations Commission on International Trade Law (UNCITRAL)