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.
Banking trade finance products risk being left behind, given the speed at which technology is changing.
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.
Insurtech firm Tinubu Square has been named as one of the world’s most innovative insurtech companies in this year’s InsurTech100 list. Sponsored by FinTech Global, the InsurTech100 recognises the world’s… read more →
US investment bank Citi has launched its first sustainability-linked supply chain finance (SSCF) programme in Asia-Pacific. Through the SCCF programme, Citi aims to support clients as they advance ESG priorities,… read more →
On the eve of COP26 – the biggest climate summit of the year – the world is more focused than ever on reducing carbon emissions, and on the role that individual companies can play in tackling climate change.
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 →
New research has found that up to $50 trillion in new investment in SMEs will be needed to reach global net zero transitions goals. A joint white paper, released today… read more →
UK development finance fund CDC Group has committed to a $30 million trade finance loan to Bangladesh’s Prime Bank. The loan facility, which will enable Prime Bank to extend more… read more →
UK budget: Sunak promises action on HGV crisis, shipping and tonnage tax, warns of further inflation
British Chancellor Rishi Sunak today presented his Autumn Budget of 2021 to the UK House of Commons.
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 →
The UK Financial Conduct Authority (FCA) plans to transition from the London Interbank Offered Rates (LIBOR) to Risk-Free Rates (RFRs) by the end of 2021, to restore trust and integrity in the market. This shift comes after several banks manipulated their interest rates for profit, disturbing trust in the global economy.