BAFT is the leading financial services association for international transaction banking. In his new role, Stevenson will lead BAFT’s trade-focused policy, practices, and education initiatives, and support its trade-related councils and committees.
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.
The pandemic and the ensuing disruptions in how the world produces, transports, stores, and consumes bulk commodities is placing physical inventory control and monitoring in the cross-hairs of revolutionary change.… read more →
A new ICC report, released yesterday, estimates that if G7 countries can deliver on legal reform, standardisation, and adoption of digital records, then trade between them could rise by about 43% above its 2019 value by 2026.
The current banking landscape is going through a makeover. PSD2 and open banking have it’s advantages, but there are also many opportunities to continue to level the playing field, share risks and revisit the rules.
Tech giant IBM is teaming up with fintech startup MonetaGo to address trade finance fraud, with an initial focus on South East Asia.
Letters of credit are the oldest and most common type of short term trade finance, famously described as the “lifeblood of international commerce,” with some commentators suggesting their use stretches back to 3000 BC. What makes them so successful?
Commodity trade finance fraud and losses, along with trade finance digitization, have emerged as common themes in trade finance recently.
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.
TFG’s Deepesh Patel spoke to ITFA’s Chairman, Sean Edwards, about the ITFA Structured Letters of Credit Working Group, and the emergence of Structured Letters of Credit as a variant of Traditional LCs.
TFG’s Joana Fabiao, had the opportunity to sit down with David Thambiratnam, CEO of Veridapt, a global force in commodity management for over 15 years.
TFG, today announced a media partnership with the International Trade and Forfaiting Association (ITFA), for the 47th Annual International Trade and Forfaiting Conference.
Closing a deal between an unknown buyer and seller is difficult. Add to this the cross-border element and the many different agents on the way, and trade suddenly gets complicated.
Deepesh Patel, Editor at TFG summarised the key themes discussed during ICC Mexico’s three-day virtual event on The Digital Future of Trade and Supply Chain Finance.
In a panel moderated by Christine McWilliams at TXF’s Global Commodity Finance Virtual 2021, which TFG partnered with, this impact was discussed at great depth, looking at how to navigate commodity trade finance in a post-COVID world.