Each day, mountains of trade finance data are delivered to banks, requiring urgent processing to support the flow of goods around the world.
Speaking to Trade Finance Global, Pillow said she has overseen major changes as head of communication at ITFA, not just in the way the association presents itself, but also in terms of its reach and scope.
Although UCP 600 and ISBP 745 offer no specific provisions for partial confirmations of letters of credit (LCs), MonetaGo’s Tat Yeen Yap says they are not only possible, but are “straightforward and efficient”.
As the clocks struck midnight, we looked back at over 700 articles, handpicking our favourite stories that made the headlines in 2021
It has, once again, been a tumultuous year for global trade and finance. Here we reflect on our most popular topics, hottest headlines, and key themes of 2021.
Like many organisations during the COVID-19 pandemic, the International Trade and Forfaiting Association (ITFA) has had to adapt to a changing business landscape.
The heads of the World Trade Organization (WTO) and the International Finance Corporation (IFC) have unveiled new plans designed to help tackle the global trade finance gap. In a joint… read more →
British multinational bank Standard Chartered has announced the launch of Sustainable Account, a new solution that enables corporate clients to contribute to sustainable development while maintaining daily access to their… read more →
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 →
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.