Money fuels serious crime, including drugs trafficking, human slavery and terrorism. Managing financial crime risk while keeping up with the speed at which trade finance and payments technologies are emerging presents a huge challenge for banks around the world. TFG heard from Standard Chartered’s Global Co-Head, Financial Crime Compliance, David Howes.
TFG spoke to Clyde & Co’s Robert Parson about the development of trade finance as an asset class, a view on COVID-19, and tradetech
As proud Media Partners of the International Chamber of Commerce (ICC) Global Trade Survey, TFG invites its network of banks and financiers to participate in the Trade Finance Annual Survey on Global Trade.
TFG heard from crpyto expert Oliviere Depiere on the future of money in its cryptographic and legal dimension fully backed by the State, that is, in the present case, by the Swiss National Bank.
Macro uncertainty continues to be a key factor impacting growth as we continue to see a slowdown in trade flows. TFG spoke to BofA’s APAC team
Since 2000, global trade flows have trebled to US$18.5 trillion. Yet many challenges to the adoption of trade finance products remain.
Africa is home to 1.3 billion people spread across 54 countries, 20 of which have economies set to expand by an average of 5% or higher over the next five years. We spoke to BACB’s CEO about export opportunities in Africa.
TFG heard from Director of SMEunited, Luc Hendrickx on how to make international trade fit for MSMEs, and how WTO can help
ISO 20022 is the new global language for payments messaging, helping make the quality of data, richer, structured and more meaningful. The payments industry continues to change rapidly and is certainly something that is discussed by most heads of treasury and trade. There is a constant need to adopt global standards within the financial community, and ISO 20022 is one standard that’s taking the lead.
We caught up with Peter Jameson, Head of Trade and Supply Chain, Asia Pacific in Bank of America. We discussed the highlights of 2019 and the opportunities in 2020 for the trade, receivables and supply chain finance. There will be continued pressure on trade flows, with reduced volume, commodity prices, and financing demand. Despite this, Asia Pacific’s growth prospects remain favourable as compared to other regions. Businesses continue to seek growth and focus on further developing their banking needs in the region.
We discussed with AIG some of the challenges and opportunities in the trade credit insurance sector. Enabling the much-needed reduction of the trade finance gap, and bringing in a wider array of investors while mitigating the risks of such expansion in the backdrop of geopolitical uncertainty will be a huge challenge in 2020. However, dealing with a broader collection of participants in the trade finance ecosystem in terms of jurisdictions, size of the borrower, types of assets and fintech entrants set us up for interesting times.
As the most authoritative voice in the trade finance industry, ICC Banking Commission, maintains a permanent dialogue with regulators and supervising bodies, helping to develop regulations affecting the industry.
2019 has been a fairly promising year of growth for some emerging and developing markets, but with continued regulatory scrutiny, correspondent banking relationships continuing to be a cut, and a sluggish growth forecast for 2020, what does this mean for trade in EDE’s?
Speaking at Davos, Chancellor of the Exchequer Sajid Javid stated that the UK will be going ahead with its proposed Digital Tax. Expected to be in place for April 1st, 2020 the tax is designed to target multinational corporations/ conglomerates with a revenue derived from either from the provision of a social media platform, a search engine or an online market place.