International Forfaiting Association and International Factors Group sign cooperation agreement
During a meeting in Milan on 5 February 2014, the president of the IFA Paolo Provera and the secretary general of IFG represented by Mr Erik Timmermans signed a cooperation agreement between their respective organizations. IFG will become associated member in IFA and IFA will become strategic partner in IFG.
Recognising that the world of trade finance and the world of open account receivables financing are moving closer to each other, there is a need for stronger cooperation between the respective trade bodies for these industries. Members of both associations will be invited to attend education and networking initiatives from the other association and where possible joint initiatives will be developed in these areas. It is also the intention to share knowledge and best practices and to invite members to join and become active in the other association at preferred conditions.
The IFA is the worldwide trade association for commercial companies, financial institutions and intermediaries engaged in forfaiting. Founded in August 1999 and with more than 140 members the IFA aims to foster business relationships and enable best practice among those engaged in the ever-expanding, global forfaiting community.
IFG is the global trade association that represents and promotes the interests of the factoring, invoice finance and asset based lending industry on a global basis. It brings like-minded organisations together to network, educate and influence, all with a common goal of building the reach and impact of the receivables finance Industry in the support of economies, growth and employment. IFG currently has 160 members in over 60 countries.
For more information please contact:
Paolo Provera,
President IFA
Paolo.Provera@arabbanking.com
www.forfaiters.org
Erik Timmermans,
Rep. secretary general IFG
sg@ifgroup.com
www.ifgroup.com
