Letters of credit emerged in Europe in the 1800s. However, in their early days the functionality of letters of credit was limited, due to the non-uniformity of national laws. 

Baris Kalay, head of trade and supply chain finance for Europe, Middle East, and Africa (EMEA) at Bank of America, caught up with TFG’s Deepesh Patel at ITFA’s Annual Conference held in Bristol, England. 

South Africa’s Standard Bank has launched a new digital payments partnership with Africa-based fintech Flutterwave. Under the terms of the deal, Standard Bank customers in eight African countries will be… read more →

The world’s most important number is changing, and traders need to be aware of its implications.

If your work involves international trade transactions, you will find that one of the most common and useful SWIFT Codes that you will encounter is SWIFT code MT 754.

French international bank BNP Paribas has executed a green repurchase agreement (repo) transaction with state-owned utility company Électricité de France (EDF). The two companies have worked jointly to structure and… read more →

Merchants would go on voyages for several weeks, if not months, in a caravel, carrack or clipper to the Far East, or elsewhere, to buy cotton, wool, tea, spices or other commodities. They would be equipped with a Letter of Credit in their trunk, often handwritten by the clerk of their high street banks.

Trade and supply chain finance provide innovative solutions for the working capital gap faced by growing companies.

In most countries, small and medium enterprises are important contributors to economic welfare. This is the main reason why a digitalized trade system can open more opportunities to further SME growth.

SWIFT is a communication platform that allows members to connect and exchange financial messages securely and reliably.