LONDON, 7 July 2020. Trade Finance Global (TFG) and The London Institute of Banking & Finance (LIBF) today announce the 2020 winners for the International Trade Professionals Programme (ITPP).

The ITPP gave international trade professionals the chance to write for TFG’s publications. The top 10 writers of the year’s cohort will be enrolled onto a trade finance course, certified by LIBF.

In its first year running, participants worked closely with TFG’s editorial team to plan, scope and produce a journalistic piece of content on a pre-agreed topic within international trade and finance.  Top articles are scheduled to be published in TFG’s flagship publication, ‘Trade Finance Talks’, launching next week.

The top 10 winners will also receive access to one of the six trade and transaction banking courses provided by LIBF, including all the study materials, the examination and certification.

Both the panel at TFG and LIBF faced an incredibly difficult challenge, choosing the 10 candidates who will have access to an LIBF course, given the high calibre of this cohort. The articles were independently assessed by a panel of judges from LIBF and TFG.

Winners

Elif Kuman
Aditya Dadheech
Akinbobola Olugbemi
Fragkoulis Kakaris
John Khaw
Matthew Lane
Lungi Mchunu
Mohamed Elnaggar
Mathieu Saadati
Poppie Simmonds

Continuation of the ITPP 2020 community

Given the success of ITPP 2020, TFG have decided to continue the forum for the ITPP 2020 cohort. TFG will continue to support the communities for ITPP and encourage continued conversation via the closed groups.

Trade Finance Talks – magazine

In addition, it was decided to include 5 of the articles in TFG’s magazine, Trade Finance Talks; John Khaw, Mohamed Elnaggar, Mathieu Saadati, Poppie Simmonds, Edgar Rutaagi. These will be published in Trade Finance Talks next week.

“We would like to take this moment to thank you all once again for your incredible efforts as a global trade community, particularly during these difficult and uncertain times.” said Deepesh Patel, Editor, TFG.

ITPP Alumni 2020

Alumni for ITPP 2020 are as follows:

  • Ahmed Alomery
  • Anirban Chatterjee
  • Mohua Banerjee
  • Tinashe Chiwanza
  • Aditya Dadheech
  • Tom Dean
  • John Dunlop
  • Mohamed Elnaggar
  • Jason Grever
  • Ramesh Gopal
  • Abhishek Gupta
  • Osama Ibrahem
  • Ramesh Iyengar
  • Biji Kurian John
  • Fragkoulis Kakaris
  • John Khaw
  • Elif Kuman
  • Zoltan Kormoczi

  • Matt Lane
  • Guillermo Lemmo
  • Tadzina Mannathoko
  • Lungi Mchunu
  • Christopher Moore
  • Harsh Narain
  • Samrat Nanyasi
  • Chidochashe Ncube
  • Oscar Ofumbi
  • Philip Oguntoye
  • Akinbobola Olugbemi
  • Mohammed Ragab
  • Juan Rodrigo
  • Edgar Azairwe Rutaagi
  • Mathieu Saadati
  • Neha Saxena
  • Poppie Simmonds
  • Harpreet Singh

ITPP Entries – 2020

daryna strogal ittp Can SMEs benefit from digital solutions in trade finance? by Daryna Strogal - 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.
cynthia hererra cardenas itpp Sustainable supply chains: an accelerator to boost sustainability goals? by Cynthia Herrera Cárdenas - The magnitude and pressure around climate change and the United Nations (UN) agenda can give an opportunity to make a joint effort to transform supply chains more sustainable.
Disruption in Trade Finance Compliance Disruption in trade finance compliance by Monica Apostol - AI, internet of things, robotics - what do they mean for trade finance, particularly in the efforts to combat trade-based money laundering?
Ankit Agarwal new Is Digital Identity the key for unlocking MSME access to Trade Finance? by Ankit Agarwal - In a world of shrinking supply chains and digital connectivity, the concept of identity is continuously evolving. Is digital identity going to be the panacea to the age-old problem of MSME access to trade finance?
Debt trap diplomacy- How financial hegemony hinders trade and development Debt trap diplomacy: How financial hegemony hinders trade and development by Aaron Onyango - The notion of 'debt-trap policy’ has elicited much debate about whether entities that deliberately flex their financial muscle to exert dominance over desperate countries exist. This work highlights its meaning, the actors, and its effects on trade and economic development.
Is trade digitization the answer to commodity trade finance fraud Is trade digitization the answer to commodity trade finance fraud? by Kamel Moris - Commodity trade finance fraud and losses, along with trade finance digitization, have emerged as common themes in trade finance recently.
The digital transformation of demand guarantees and documentary credits The digital transformation of demand guarantees and documentary credits by Haitham Elsaid - 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.
Winners announced Announced: ITPP 2021’s bronze winners and favourite articles by Joana Fabiao - TFG, LIBF, FCI and EBRD, are pleased to announce the bronze and runner-up articles from this year’s cohort of the International Trade Professionals Programme/
Human rights Akinkunmi Abolade Human rights due diligence in international trade: A practical approach to achieving SDGs by Akinkunmi Abolade - This article posits that human rights due diligence is the most practical approach to addressing climate change concerns and achieving other sustainable development goals.
Modifications and Exclusions in Commercial Letters of Credit Issued under UCP 600 Modifications and exclusions in commercial Letters of Credit Issued under UCP 600 by Ravi Jinugu - Since the inception of UCP 600, trade finance professionals, in particular, the letter of credit community, have been discussing the need for and consequences of modifications and exclusions to the rules in commercial LCs issued under UCP 600.
Transforming the economy in the 21st century Transforming the economy in the 21st century: financial inclusion, diversity and climate change by Suhardiyoto Haryadi - Hundreds of companies are building the foundations of exemplary corporate climate action. The next decade will witness accelerating efforts to transform the economic system.
Green Export Finance - A force of good Green Export Finance – A force of good by Maya Demeke - The latest IPCC report drives further urgency to ECAs’ plans to increase funding for green and sustainable deals and to rebalance portfolios with long-dated carbon-intensive assets
Winners announced Announced: Winners of the 2021 International Trade Professionals Programme by Joana Fabiao - TFG, LIBF, FCI and EBRD are pleased to announce the gold and silver 2021 winners for the International Trade Professionals Programme.
Covid-19 aftermath - consumer demand shifts, changing supply chains and shipping containers Covid-19 aftermath – consumer demand shifts, changing supply chains and shipping containers by Cassandra Ring - Eighteen months into the COVID-19 pandemic and shipping bottlenecks are challenging companies to meet demand. The global outlook is uncertain, however, that does not mean doom and gloom, making way for a new thought process.
Trade finance talks Uchenna The MLETR as a model for the digital trade provisions of AfCFTA by Uchenna Anyamele - Digitalisation has become a global priority, however, efforts to digitalise trade have been hindered by legislative gaps.
Anastasia Mcalpine - digital trade Digital Trade Transaction: A novelty or a necessity? by Anastasia McAlpine - In the wake of the ICC Uniform Rules for Digital Trade Transactions (URDTT) due to publish next month in October, we explore the meaning of a digital trade transaction - underlying assumptions, regulatory framework and future expectations.
Trade Finance talks Alejandro The tokenisation of trade finance: A backcasting exercise by Alejandro Battistotti - New potential applications of blockchain technology through the lifecycle of the trade are in constant development. However, so much input and so much promise is detaching us from the most immediate and practical ways of adopting this technology in trade finance.
ITPP launch featured image Launched: International Trade Professionals Programme 2021 by Joana Fabiao - TFG, LIBF, FCI and EBRD, launch the International Trade Professionals Programme (ITPP) 2021, following the success of last year’s cohort, at EBRD’s annual conference.
RFQ and QTO; Science or Art Form? by John Dunlop - The Buyer’s Request for Quotation (RFQ) and the responding Seller’s Quotation (QTO) need not be a kabuki dance event that only creates the appearance of engaging in a transaction.
Wirecard’s Travails and Lessons for the Trade Finance Community by Philip Oguntoye - Wirecard is suspected of misleading investors through aggressive accounting practices including inflating sales and revenue in order to appear to be performing better than it is actually doing.
Is ‘video’ the next big thing in trade finance? by John Dunlop - Many new fintechs are fielding trade transaction cloud platforms that combine video technology with non-bank trade finance that is going to fill the vacuum created by the banking industry.
How to Prevent Double Invoice Fraud by Mohua Banerjee - EIPP in combination with blockchain can help banks avoid duplicate Invoice Financing and perform dedupe effectively.
Banking the unbanked – how the trade finance asset class can stimulate economic growth in emerging economies by Matt Lane - There is immense synergy to be unlocked between SMEs and trade finance funds by working closely together and developing relationships that allow for a level of comfort on both sides of the coin to be developed over time.
How should Colombia transform its oil-dependency for an eventual post COVID-19 global economic rebound? by Juan Rodrigo - With competitive digital economy, Colombia will be able to plan for post-pandemic recovery and strengthen regional economies to adopt smart solutions linked to the Internet of Things that allow them to compete in global value chains.
Local Currency System (SML) – secret ingredient for trade flow recovery by Guillermo Lemmo - The Local Currency System - SML - resurfaces as an alternative to recover trade flows not only in the Mercosur but also in other regions of the world which can implement it.
Saving the Finance World with Decentralized Finance (DeFi) by Mohammed Ragab - DeFi has unleashed a wave of innovation, offering exciting opportunities and the potential to create a truly open, transparent, and immutable financial infrastructure.
SME Crisis Playbook: Generating cash with trade receivables finance by Zoltan Kormoczi - SMEs need to re-think their innovation strategy including digitalisation as the pandemic has accelerated the shift to digital technology in trade.
Blockchain consortia in trade finance. Survival of the fittest? by Abhishek Gupta - Only through collaboration and interoperability with other key technologies like AI, RPA, and the IoT will the path of consortia be effective in making trade finance truly digital.
Distribute the Ledger, Not FinCrime Risk by Christopher Moore - If regulators and established FIs are to place their faith - and their capital - in Blockchain, it must have a financial crime control framework to match efficiency of the solutions blockchain offers.
Structured Commodity Finance (Agri) – How do you think green when your numbers are red? by Lungi Mchunu - Farmers are losing money regardless of their size, defaulting on existing facilities, and as such financiers are exiting structured commodity finance due to credit and compliance risks.
Removing Barriers and Empowering Women in Trade by Elif Kuman Saran - Collective action by sector players concentrating on continuing education, enabling women’s access to financial markets, and directing women to more value-added businesses can be a solution to remove barriers and promote women in trade.
Money Laundering – A step-by-step guide for robots to challenge by Aditya Dadheech - Considering the stakes involved in managing the AML/KYC compliances are high, banks/ FI should carefully assess the options available with them and look holistically to mitigate the risk.
Why should Canadian SMEs leverage trade credit insurance post COVID-19? by Anirban Chatterjee - SMEs need to explore innovative financing options like trade credit insurance as they plan and prepare for the “new normal”.
A Bankers Dilemma – Stretching the Operating Cycle for Trade Credits by Harsh Narain - By leveraging technology for insights, a banker can make well-informed decisions, in compliance with audit and ethics, which are in the best interest of the bank.
Debtor Finance – a viable alternative to overdrafts for SMEs in South Africa by Jason Grever - Debtor Finance is a simple, viable alternative to consider for relatively quick access to working capital funding.
OBOR – Why macroeconomic policies are needed to drive China – EU supply chains by Fragkoulis Kakaris - The magnitude and complexity of the OBOR project creates numerous policy challenges for countries in the region seeking to benefit from its implementation thus, the need for policy cooperation.
Bank and Fintech Collaboration – Lifeline for Economic Revival Post-Covid19 by Biji Kurian John - Banks, fintechs, and other vendors have a pivotal role to play in this situation to support communities and try to help the economy moving in the short and long term.
Triggering Force Majeure – The Impact on Documentary Trade Finance and Credit by Ramesh Gopal - How are the rights and obligations of the parties to a credit affected on account of missed deadlines caused by these force majeure events?
Has trade finance pulled the plug on correspondent banking? by Mathieu Saadati - Correspondent Banking should in the future reinvent itself to accompany to be an ideal companion to technical assistance and be a key milestone potential ahead for the Africa market.