The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group, signed a US$100m Murabaha-structured line of trade finance with Mizuho Bank in Malaysia, a subsidiary of Mizuho Bank Japan. This financing will help ITFC extend its support to the member countries under its Covid-19 Response Plan that is targeted towards […]
UK Export Finance (UKEF) enabled Coriolis Technologies, a UK tech start-up based in London, to double its revenue during Covid-19 by protecting a major export deal using its export insurance support. Coriolis Technologies provides data intelligence to the trade finance sector and 80% of its revenue comes from international business. The company recently secured a […]
The International Chamber of Commerce, the institutional representative of 45 million businesses worldwide, has announced the creation of a new Advisory Group on Trade Finance (ATF) – a cross-sectoral coalition of leaders in global trade. The ATF – co-chaired by Dr. Victor K. Fung, chairman of the Fung Group, and Marcus Wallenberg, chair of SEB […]
UK businesses without an EU presence will need to act before the end of the year and appoint an ‘indirect representative’ to declare their EU imports and exports, or set up an establishment in the EU, as otherwise they will not be able to trade with the EU, says leading tax and advisory firm Blick […]
The full economic and business impact of the Covid-19 crisis is yet to be felt, with the preservation of cashflow and investment in new technologies to predict risk being issues that will shape the agenda of business leaders over the coming months, according to Euler Hermes chairman Wilfred Verstraete. In a letter to the company’s […]
The Global Supply Chain Finance Forum (GSCFF) – comprising BAFT (Bankers’ Association for Finance and Trade ), FCI (formerly known as Factors Chain International), the International Chamber of Commerce (ICC), the International Trade & Forfaiting Association (ITFA) and the Euro Banking Association (EBA) – have released a paper in response to growing concerns regarding the […]
As businesses worldwide begin coming out of lockdown into uncharted territory, adapting and surviving the economic and social impacts of Covid-19 is imperative as consumer behaviour, namely spending habits, continue to rapidly change. Alongside a 200% rise in “first-time” online purchases in April, Econsultancy recently reported a 33% increase in “online banking or use of […]
The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group, has launched a new Trade Development Fund (TDFD) with an initial target capital of US$50 million to support trade development projects in member countries of the Organisation of Islamic Cooperation (OIC) and Muslim communities in non-member countries. The Fund is […]
Infor, a global leader in business cloud software specialised by industry, today announced that it is partnering with DBS Bank, Southeast Asia’s largest bank, to integrate digital trade financing capabilities into the Infor Nexus global network of more than 68,000 businesses. The two companies’ first joint programme recently went live with one of the world’s […]
The International Chamber of Commerce’s (ICC) 11th annual Global Survey on Trade Finance reveals that banks are optimistic about the evolving nature of trade finance, though unsurprisingly expect various industry-wide challenges and disruption as a result of the Covid-19 pandemic. The 2020 ICC Global Survey report – recognised as the world’s most authoritative review of […]
29/11/2020
Edition 288 – October/November 2020
An ill wind By Business Money group editor Robert Lefroy Lack of cyber securi...
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