BCR’s 21st annual Receivables Finance International Convention provides an essential update on the latest invoice financing trends, market challenges and innovations.
The receivables finance sector continues to evolve rapidly. Covid-19 has meant a significant shift in market attitudes. Some of these will be permanent; some will disappear over time. Many expect a rapid rise in receivables finance business coming out of the pandemic as government-imposed restrictions are eased. But navigating to that point could be tricky as the financial support provided by governments will expose many SMEs to terminal positions.
RFIx 2021 will take a deep dive into the impact of the pandemic and global geopolitics on market trends and risk. It will explore how practitioners can become fitter, leaner, and better in this new world through innovative product development, technology and new markets, and discover the new challenges around ESG, regulatory and legal issues.
This flagship event for the receivables finance industry attracts delegates from across the globe, bringing together both market experts and new entrants. Being a virtual event, it provides a chance to network with an even wider circle of industry peers.
Join senior receivables finance executives at the 21st annual RFIx Convention and ensure the right direction for your business.
As event partners, eBSI Export Academy can offer our subscribers a 25% discount on a delegate pass rate. To register please follow this link. The member discount code is rfix21-med.
Alternatively, you can contact yongmei.he@bcrpub.com quoting your discount code from eBSI Export Academy for payment via invoice.
We are delighted to announce we will be participating as a sponsor and Media Partner at the Exim Summit taking place in Croke Park, Dublin on 18 November 2015. We have arranged a special two for one deal with the conference organisers so if you would like to attend let us know at eximsummit@ebsi.ie and we will provide you with the appropriate discount code and link for registration.
The EXIM Summit – the only event of its kind in Ireland – will provide export-import practitioners with a forum for education, innovation and thought leadership, and a platform for continued growth. This is an unmissable day for businesses seeking to grow internationally in 2016 and beyond.
EXIM Summit will be a must attend event for Irish businesses interested in learning from the best Export-Import practitioners and boosting your global contacts database in dedicated networking sessions with like-minded industry professionals.
Learn from leading export-import professionals who have successfully navigated foreign markets and made strategic global connections in a challenging sector. Attendees will discover future Export-Import trends, which will provide them with an invaluable advantage over their competitors.
Meet and network with hundreds of progressive and like-minded export-import professionals to grow your supply chain and global contacts. There will be ample opportunities throughout the day to make connections that will accelerate your business’ growth.
EXIM Summit attendees will have the opportunity to meet with industry-leading buyers on a one-to-one basis to pitch your goods/services to experienced buying professionals, a session with unlimited possibilities – not to be missed!
Attendees can also seek advice and information about supports available to them in the EXIM Summit Advice Zone, featuring Government Bodies, Organisational Supports and Industry Associations and leading industry experts.
BOOKMARK THIS PAGE!
As more information about the conference becomes available we will be providing it here on our web page or you can check out : http://www.eximsummit.com
For Exhibition and Sponsorship opportunities please contact our team on +353-61-633639 or by email: info@eximsummit.com
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The Dubai Chamber of Commerce and Industry in partnership with the International Chamber of Commerce’s Regional Banking Commission Middle East and North Africa (MENA), held a regional launch of the ICC Uniform Rules for Bank Payment Obligation (URBPO) at its Dubai headquarters on Monday June 24, 2013 The ICC Regional Banking Commission, MENA, also revealed key findings of its Global Trade Finance Survey 2013, which provides a detailed statistical analysis of the regional and global trends in trade finance.
What is a BPO?
A Bank Payment Obligation or BPO is an irrevocable undertaking given by a bank to another bank that payment will be made on a specified date after successful electronic matching of data according to an industry-wide set of rules – the URBPO.
eBSI with China Systems has developed a short simulation of the BPO Process which can be viewed at http://www.chinasystems.com
An article on URBPO by Khalil Matar can be found later in this e-magazine.
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At an event in Karachi Pakistan, Mr. Umar Farooq of United Bank Limited said “The ‘FIT Initiative’ in Bangladesh and Pakistan is supported by the ‘IFC Global Trade Finance Program’ which itself, in a short period of time has proven to be a highly successful global trade finance support program for banks and their customers especiallyduring turbulent times’. Notwithstanding the global financial crisis it is clear to everyone that international trade is of fundamental importance to growth development and reduction in poverty. The FIT Initiative provides graduates with international certification and integrates them into a growing network. See http://www.ifcfitinitiative.com
The IFC ‘FIT Initiative’ is an e-learning program that is designed with an important
dual purpose:
1.to train and certify international trade finance professionals
2.to build an online global network of international trade and finance professionals who will share knowledge and experience on an online platform specifically developed for the program
This Three Month program is delivered in a combination of the following learning elements:
Students will be incorporated into the eBSI Alumni and will be able to collaborate through a purpose built learning platform.
Online Specialised training in UCP 600 ICC Approved Online Training
Online Collaboration Site for stakeholders To leverage the network aspect of the ‘FIT’ Initiative all stakeholders (participants, tutors and coordinators) will have access to an online networking and collaboration system designed to facilitate exchange of ideas and contact building.
The Finance of International Trade (FIT) is comprised of the following Learning Units:
E. SUN Bank has recently announced the successful launch of their new Global Treasury System developed in partnership with China Systems, the world’s leading trade finance, payments and supply chain finance solutions vendor. The pilot site for the system was the bank’s new branch in Singapore, which officially opened in July.
E. SUN Bank is the first client to adopt China Systems’ Java EE-based trade finance system, Eximbills Enterprise, as a platform to address their centralized global financial business requirement in developing their Global Treasury System. After going live in E.SUN Bank’s Singapore branch, the Global Treasury System will eventually be rolled out to the bank’s Head Office and all their overseas branches.
The Global Treasury System covers both front and back end treasury transactions and is 100 percent compliant with SWIFT MT3xx Series messages. As part of its support for MT3xx messages, the system provides a matching mechanism for MT300 and MT320 messages thus allowing the straight through processing of large volume Foreign Exchange and Money Market transactions with the system automatically validating counter-party transactions. This significantly reduces errors typically experienced in manual processes and substantially increases efficiency of operations. In addition, Securities transactions are also supported, which includes a variety of interest-bearing bonds.
The main advantages of the Global Treasury System are its inherent capability to support business diversity, flexibility, and ability to integrate to the bank’s dealing solutions. The Java EE platform is also in line with E. SUN Bank’s IT strategy for a global development framework which will allow them to support and maintain a centralized, single platform Global Treasury System for bank-wide deployment.
The flexibility of the Global Treasury System provides significant business benefits to E.SUN Bank as it is
able to deliver new time-to-market business products, and better and more financial services to its
clients worldwide, resulting in a rapid global expansion of their business..
CS ‘iPad 2’ Prize Draw won by Uwe Noll of Deutsche Bank at prestigious event in Dubai, UAE!
Vincent O’Brien, in his role as China Systems Trade Finance Advisor, concluding the China Systems PrizeDraq held during the IFC Partners meeting in Dubai in October. Mr. Uwe Noll, Director, Global Transaction Banking of Deutsche Bank was the proud winner of an iPad 2. Pictured above are Vincent O’Brien, Uwe Noll, Stefan Tryggvasson of China Systems and Bilge Osik of IFC.
We would like to Congratulate Mr. Aydin Musayev, from Baku, Azerbaijan, who was nominated to get the ‘China Systems Diploma in Export Operations Scholarship’ Compliments of China Systems
Mr Musayev will now continue his studies and avail of the EUR 2000 scholarship for the Diploma in Export Operations from eBSI courtesy of China Systems!
To subscribe to this ezine simply go to www.ebsi.ie and we will add you to our subscriber list and add an entry to the draw for a free scholarship for our International Trade Specialist Accreditation worth EUR 2000!
]]>The IIBLP Middle East Annual Survey of Letter of Credit Law and Practice and Guarantee and Standby Forum took place on 8 & 9 October 2012 in Dubai at Dubai Chamber of Commerce.
At the event were leading lights in Trade Finance wishing t stay at the forefront of their field. “I gained a lot from the LC Survey” said Stephannie O. Ojeikere, Manager of the Institute of Trade Finance Management and Practice, from Lagos, Nigeria. Their website can be found at http://www.titfmpn.org.
The European Survey took place at the very edge of Europe in the historic city of Istanbul, Turkey on 11 & 12 October 2012. The local host for the event was YapiKredi Bank and local organizer was ICC Turkey.
Both surveys convey Professional Development credits (CDCS Specialists receive 13 PDUs and CSGP Specialists get 4 CEUs). As an Associate Director of IIBLP, Vincent O’Brien also participated actively at the events.
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Over the past few years, the Forum has been a great success with bankers and trade finance professionals and has become a renowned trade finance specialist hub fostering dialogue and cooperation and between the members of the international trade finance banking community with a focus on the EBRD countries of operation.
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The graduates of 2011 braved frosty Russian weather and travelled to Moscow to receive their ICC Certificates of Achievement. All of them had 12 months to complete seven modules – the most extensive suite of trade finance training available to any trade finance professional worldwide. It was hard to tell who was more nervous – the graduates, the TFP team or Thierry Sénéchal, Senior Policy Manager at the ICC Banking Commission who came to Moscow especially for this event. For many graduates it was a rare opportunity to receive their certificates directly from the main authority in trade finance.
As in the previous year, the TFP‟s partner banks awarded the best students with special prizes. Commerzbank invited Innesa Amirbekyan of Ameriabank to complete a two-week internship at its headquarters in Frankfurt. Michael Gutsa of Credit Bank of Moscow won a bespoke one-week training course in London, sponsored by Euromoney Training.Mariia Ivaschenko of Raiffeisen Bank Aval and Nadica Bosilkova Boskova of Kommercijalna Banka AD Skopje both won iPads, presented by China Systems and eBSI. Suren Kocharyan of Ameriabank received a subscription to DC Pro, courtesy of Coastline Solutions, as did Olga Belovolova of NBD Bank, the only top graduate from a regional Russian bank.
Thierry Senechal and Vincent O’Brien represented ICC Paris at the Graduation in Moscow, Russia
]]>The Independent Bank undertaking plays an evolving role as a key mechanism to secure international trade transactions. This workshop, led by Vincent O’Brien, examined the development of independent bank undertakings in International Business. The development of Demand Guarantees and applicable rules was also examined in detail.
The participant bankers came from Latvia and Lithuania. Apart from questions on guarantees the participants had many questions concerning recent developments with Standby Documentary Credits and the applicable rules ISP 98.
The workshop also included a practitioners comparison between the Standby Credit, the traditional Documentary Credit and Bank Guarantees.
According to Karolin Karolina Safranaviciute, Project manager, ICC Lithuania “This workshop provided practitioners with a solid understanding of the various forms of independent bank undertakings used to support international trade. Participants could clearly see the benefits and limitations of the various instruments and most importantly became familiar with the key rules that apply to each instrument”
Further information about the activties of ICC Lithuania may be found at http://www.tprl.lt/english.php
]]>It is the only truly global forum dedicated to letters of credit. With its unique combination of moderators, panelists, attendees and materials, the Annual Survey offers an unsurpassed networking opportunity, placing you face-to-face with over 100 of the leading LC professionals from every discipline in the industry. Running for over a decade, the sessions are attended by over 500 letter of credit professionals from banks, law firms, corporations and universities throughout the world.
The Annual Survey provides the ultimate forum for the exchange of practical information and views on LCs. Each topic is moderated by one of the world’s top experts and referred to the panel of experts for an interactive discussion in which audience participation is strongly encouraged.
]]>The objective of this trade finance workshop was to provide participants with the required tools to understand and manage corporate customers trade finance needs so that they can properly apply international standard banking practice within their back office operations and procedures for the main popular trade finance instruments and in turn mitigate risk exposure for their respective banks.
The workshop was designed to provide a structured and step by step approach to managing trade finance operations with a view to being able to implement the knowledge obtained at the week long training program back home in their banks.
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The CDCS is the professional certification that documentary credit practitioners undertake to demonstrate specialist knowledge and application of the skills required for competent practice.
The CDCS has been developed in partnership by the Institute of Financial Services (ifs) and the International Financial Services Association (IFSA). It is endorsed by the International Chamber of Commerce.
The two day event was attended by over 50 participants from more than 40 banks and dealt with the complete Documentary Credit process including case studies on ISBP (International Standard Banking Practice) and the Uniform Rules for Reimbursements.
ICC Russia were actively involved in specifying the content of the workshop and provided a significant amount of input into customising the training material to take into consideration local issues affecting the Russian trade finance market.
For more information about the CDCS examinations visit http://www.cdcs.org/
Further information about China Systems and Eximbills Technologies can be found at http://www.chinasystems.com/
]]>Bangladeshi participants also graduated at an event in Chittagong on the 5th of December 2010. Pictures of the main events can be seen on this page, and more in-depth info on both the IFC FIT Program and the events covered here can be
seem on the course central website at www.ifcfitinitiative.com
The 1 day event included interventions from a number of leading Pakistani experts in Trade and Logistics and also gave a very appropriate setting for the graduation of the IFC FIT Initiative online learning program in Trade Finance established in 2008 by eBSI, the Institute of Bankers Pakistan and the International Finance Corporation.
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For more information on the next intakes of the IFC FIT Program visit http://www.ifcfitinitiative.net or contact the local coordinators of the program below.
]]>The panel exploring the role of multilateral development banks as engines of growth, including participation from the World Bank, EBRD, ADB, IADB and the IFC, heightened the awareness of the critical supports provided by the development banks trade facilitation programs to the poorest countries during times of crisis. A highlight of the event was a focused discussion on the SWIFT BPO led by David Hennah (SWIFT) with practical inputs and examples from Neil Chantry (HSBC) and Xiong Yuanmeng (Bank of China). The last but by no means least presentation involved Vincent O’Brien updating the audience on the progress of the ICC’s Market Intelligence Working Group (MIG), whose latest research document ‘Rethinking Trade Finance 2010’ has received widespread acclaim from around the World.
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June / July / August 2010, further groups of participants graduated at events in Karachi, Lahore and Islamabad between the 2nd and 6th of July 2010.
FIT Initiative Graduation held in Islamabad July 2010
FIT Initiative Graduation held in Dhaka Bangladesh on 1 August 2010
]]>Vincent O’Brien, a member of the ICC Banking Commission Guarantee Task Force and moderator for the URDG workshop scheduled for 20 April in Beijing lead this important workshop timely scheduled in Dubai for mid June. O’Brien stated ‘This workshop is of tremendous importance to traders, bankers and corporate lawyers operating in the Gulf – the rules become effective on 1 July 2010 and all parties need to be ready.
The essential nature of this workshop has been underlined by the recently published report of the ICC Banking Commission “Rethinking Trade Finance 2010,” which surveyed trade bankers in 75 countries.
The report stated that ‘44% of respondents indicated that there was an increase in the number of claims under guarantees and standbys in 2009’. It is alarming to see that 23% of respondents reported an increase in the number of court injunctions stopping payment under bank undertakings.
According to O’Brien the need for strong and clear demand guarantee rules as in the URDG758 is clearly essential ‘particularly as the figure from the 2010 survey is almost double the figure reported in the 2009 Survey (12%)’. Knowledge of the rules and how to implement them were the key focus of the Dubai Chamber workshop on 14 June 2010.
]]>The 3rd IFC Global Partners Meeting which took place in Istanbul on 28 & 29 April 2010 was a chance for Trade Bankers in issuing banks in the IFC Global Trade Finance Program (GTFP) to network with confirming banks of the program which being updated on significant issues of the day.
Topics covered in the meeting included a presentations on prospects for developing country trade, and regional panels covering Africa, CIS and Latin America & Caribbean.
New IFC Initiatives were also showcased at the international meeting with over 160 delegates from 30 countries attending. IFC GTFP is establishing an operations hub in Istanbul in order to better service its client banks
Antonio Alves moderated the Regional Panel on Latin America and Caribbean which consisted of Mrs. Angela Martins – Banco ABC Brazil; Mr. Patricio Ovalle – Banco CMF Argentina; Mr. Guillermo Bueso – Banco Atlandida, Honduras; Mr. Fernando Monasterio – Banco Ganadero,
A Panel discussing Africa’s Silk Road – Trade ties between Africa and China consisted of interventions from Mr. Craig Polkinghorne,
Standard Bank; Mr. Florian Witt, Commerzbank, and Mr. Kenny Aliou, FMBC, Nigeria.
Pictured receiving an award of appreciation is Mr. Vincent O’Brien, First Director eBSI and ICC Representative to the WTO expert group on financial crisis with Mr.Mohammed Redha A Jawad – General Manager – Wholesale Banking Group & Mr.Ashok Manocha – Head Corporate Banking.
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“International trade activity in goods and services remains the cornerstone support of our financial system, facilitating economic expansion as well as international cooperation and development,” said Guy Sebban, ICC Secretary General. “However, after many years of rapid growth, the hard-earned benefits of global trade advancement hang precariously in the balance.”
Primary multilateral institutions, including the World Trade Organization, the World Bank, the International Finance Corporation, the Asian Development Bank and the Inter-American Development Bank, as well as the European Bank for Reconstruction and Development and leading commercial banks focused on the challenges facing trade as a result of the financial crisis.
Preliminary findings of the ICC research Rethinking Trade Finance 2009: An ICC Survey, were presented to delegates on 12 March. China Systems, the leading vendor of trade processing systems presented a positive perspective in trends in trade processing and trade
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