This article looks at the Central Bank of Egypt’s decision to stop accepting documentary collections for imported goods, and substitute them with letters of credit. The decision is expected to have wide-reaching implications for Egypt’s business community and banking sector, writes Haitham Elsaid.
The digital transformation of the banking operations of guarantees and documentary credits to shift from the paper-based and labour-intensive models to a digital trade ecosystem.
Money laundering has become more visible in global trade over the past few years, and several organizations are trying to identify and prevent it.
This article discusses the potential benefits of using blockchain technology for trade finance activities and highlights the significant challenges facing blockchain adoption.
With this global pandemic, it is recommended to encourage the use of guarantees and counter-guarantee subject to URDG 758 as it provides a balance between the interests of all the parties involved.