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  • NBK named Best Trade Finance Bank in Kuwait for 2022

    National Bank of Kuwait (NBK) was named “Best Trade Finance Bank in Kuwait for 2022” in the annual survey of Global Trade Review (GTR), a magazine specializing in global emerging markets and trade, commodity finance and transaction banking.

    GTR selected NBK as one of the leading banks in the Middle East and North Africa (MENA) region in the trade finance sector, based on customer and market-specialized institution surveys conducted around the world.

    The GTR Leaders in Trade awards recognize excellence in the trade, commodity, supply chain and export financing, and well as FinTech markets.

    By receiving this award, NBK demonstrates its leadership in financing mega deals and projects, benefiting from its strong balance sheet, extensive experience, in addition to the exceptional and sustainable relations with its clients both locally and internationally.

    Read more: https://ngulminthanglhanghal.mystrikingly.com/blog/nbk-named-best-trade-finance-bank-in-kuwait-for-2022

    #NBK #GTR #TradeFinancebank #FinTech #exportfinance #supplychainfinance #NgulminthangLhanghal
    NBK named Best Trade Finance Bank in Kuwait for 2022 National Bank of Kuwait (NBK) was named “Best Trade Finance Bank in Kuwait for 2022” in the annual survey of Global Trade Review (GTR), a magazine specializing in global emerging markets and trade, commodity finance and transaction banking. GTR selected NBK as one of the leading banks in the Middle East and North Africa (MENA) region in the trade finance sector, based on customer and market-specialized institution surveys conducted around the world. The GTR Leaders in Trade awards recognize excellence in the trade, commodity, supply chain and export financing, and well as FinTech markets. By receiving this award, NBK demonstrates its leadership in financing mega deals and projects, benefiting from its strong balance sheet, extensive experience, in addition to the exceptional and sustainable relations with its clients both locally and internationally. Read more: https://ngulminthanglhanghal.mystrikingly.com/blog/nbk-named-best-trade-finance-bank-in-kuwait-for-2022 #NBK #GTR #TradeFinancebank #FinTech #exportfinance #supplychainfinance #NgulminthangLhanghal
    NGULMINTHANGLHANGHAL.MYSTRIKINGLY.COM
    NBK named Best Trade Finance Bank in Kuwait for 2022
    In the annual survey of GTR magazine specializing in global emerging markets and trade finance.
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  • ICIEC Partners With Egypt, and AATB to Support Economic Development

    According to the latest news, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), and the Arab Republic of Egypt, addressed by the Ministry of Trade and Industry and two other associates of the Arab-Africa Trade Bridges (AATB) Program have come together, and encountered a Framework Agreement with an agenda of increasing economic coordination and boost sustainable development in all Arab and African nations.

    The above-mentioned two-year Framework Agreement will be initiating endeavors toward trade advancements, especially in areas with significant added value. Moreover, sectors that are dependent on a more talented labor force and sectors that promote further investments will get an additional shift as a result of this agreement. In this regard, last year, the African Development Bank Group’s collaboration with the WTO was an initiative towards bridging the trade finance gap due to Covid-19 pandemic.

    Egypt has been one of the most active Member States under the AATB since its acquisition in 2019 in a bid to further increase the flow of Egyptian exports in African markets, uplifting the total level of exports to $100 billion over the next five years. Additionally, the Framework Agreement will also uphold the African Continental Free Trade Agreement (AfCFTA), which is one of the biggest free trade areas on a global level.

    Read more: https://www.emeriobanque.com/news/iciec-partners-with-egypt-and-aatb-to-support-economic-development

    #ICIEC #tradeadvancements #AfCFTA #Egyptianeconomy #tradefinance #insurancefinancial #CPRI
    ICIEC Partners With Egypt, and AATB to Support Economic Development According to the latest news, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), and the Arab Republic of Egypt, addressed by the Ministry of Trade and Industry and two other associates of the Arab-Africa Trade Bridges (AATB) Program have come together, and encountered a Framework Agreement with an agenda of increasing economic coordination and boost sustainable development in all Arab and African nations. The above-mentioned two-year Framework Agreement will be initiating endeavors toward trade advancements, especially in areas with significant added value. Moreover, sectors that are dependent on a more talented labor force and sectors that promote further investments will get an additional shift as a result of this agreement. In this regard, last year, the African Development Bank Group’s collaboration with the WTO was an initiative towards bridging the trade finance gap due to Covid-19 pandemic. Egypt has been one of the most active Member States under the AATB since its acquisition in 2019 in a bid to further increase the flow of Egyptian exports in African markets, uplifting the total level of exports to $100 billion over the next five years. Additionally, the Framework Agreement will also uphold the African Continental Free Trade Agreement (AfCFTA), which is one of the biggest free trade areas on a global level. Read more: https://www.emeriobanque.com/news/iciec-partners-with-egypt-and-aatb-to-support-economic-development #ICIEC #tradeadvancements #AfCFTA #Egyptianeconomy #tradefinance #insurancefinancial #CPRI
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  • ANEXT Bank’s Soft Launch Drives Fintech For SMEs

    As per the latest news, ANEXT Bank, a digital wholesale bank established in Singapore and an entirely owned subsidiary of Ant Group, reported its soft launch today. This soft launch is followed by its receipt of MAS’s acceptance to start its business operations on 2nd June 2022. The newly announced Singapore-based digital bank is all set to provide its digital financial services to local and regional MSMEs, especially those who are engaged in international trade and looking for development and worldwide extension. No doubt that fintechs are important for small exporters.

    Remarking on the soft launch, Ms. Toh Su Mei, the Chief Executive Officer of ANEXT Bank and an expert in finance & banking for over 20 years, stated, “We think that this is the need of the hour to introduce modern & advanced financial services that can be easily accessed and easier for developing organizations. In an era where the digital economy is increasing at a fast pace, business standards are changing and adopting digital technologies as its priority, if not considering a hybrid model. Financial services need transforming and are where SMEs are operating their business activities digitally. ”

    “We are capable enough to fulfill our aforesaid vision, utilizing Ant Group’s profound position of technologies and knowledge, along with our client-oriented local team dedicated to facilitating the SME community. By considering our open and collaborative methodologies, we are thinking of associating with industry partners and the public sector to deliver SMEs with digital financial services that are easier, secure, and more fruitful,” she added.

    Read more: https://www.emeriobanque.com/news/anext-banks-soft-launch-drives-fintech-for-smes

    #ANEXTBank #SMEs #digitalfinancialservices #fintechs #internationaltrade #tradefinance #tradeSMEs
    ANEXT Bank’s Soft Launch Drives Fintech For SMEs As per the latest news, ANEXT Bank, a digital wholesale bank established in Singapore and an entirely owned subsidiary of Ant Group, reported its soft launch today. This soft launch is followed by its receipt of MAS’s acceptance to start its business operations on 2nd June 2022. The newly announced Singapore-based digital bank is all set to provide its digital financial services to local and regional MSMEs, especially those who are engaged in international trade and looking for development and worldwide extension. No doubt that fintechs are important for small exporters. Remarking on the soft launch, Ms. Toh Su Mei, the Chief Executive Officer of ANEXT Bank and an expert in finance & banking for over 20 years, stated, “We think that this is the need of the hour to introduce modern & advanced financial services that can be easily accessed and easier for developing organizations. In an era where the digital economy is increasing at a fast pace, business standards are changing and adopting digital technologies as its priority, if not considering a hybrid model. Financial services need transforming and are where SMEs are operating their business activities digitally. ” “We are capable enough to fulfill our aforesaid vision, utilizing Ant Group’s profound position of technologies and knowledge, along with our client-oriented local team dedicated to facilitating the SME community. By considering our open and collaborative methodologies, we are thinking of associating with industry partners and the public sector to deliver SMEs with digital financial services that are easier, secure, and more fruitful,” she added. Read more: https://www.emeriobanque.com/news/anext-banks-soft-launch-drives-fintech-for-smes #ANEXTBank #SMEs #digitalfinancialservices #fintechs #internationaltrade #tradefinance #tradeSMEs
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    ANEXT Bank’s Soft Launch Drives Fintech For SMEs
    Anext bank announces its soft launch as Singapore's newest digital wholesale bank to accelerate digital financial services to local and regional MSMEs. Know more.
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  • Singapore's New Trade Data Sharing Platform Aims to Regulate Fraud

    As per the latest news, a Singapore trade data-sharing platform, supported by banks, commodity houses, and state organizations, has enrolled 70 participants as part of the city-state’s endeavors to support certainty after a series of commodity trade finance frauds in recent years.

    The Singapore Trade Data Exchange (SGTraDex), which was established by bank DBS (DBSM.SI), commodity trader Trafigura and local technology controller, Infocomm Media Development Authority, was introduced on Wednesday, following the strategies put in place last year.

    “We are attempting to replicate what’s taking place in the real world,” said Antoine Cadoux, chief executive of SGTraDex Services. “The agenda is to adopt paperless technology across the end-to-end process.”

    “We suppose that with the value we are capable of demonstrating, we can touch that scale relatively faster,” according to Cadoux, a former consultant.

    Read more: https://ngulminthanglhangh.wixsite.com/ngulminthanglhanghal/post/singapore-s-new-trade-data-sharing-platform-aims-to-regulate-fraud

    #TradeDataExchange #localtechnology #tradefinance #supplychain #SGTraDexServices #finance #NgulminthangLhanghal
    Singapore's New Trade Data Sharing Platform Aims to Regulate Fraud As per the latest news, a Singapore trade data-sharing platform, supported by banks, commodity houses, and state organizations, has enrolled 70 participants as part of the city-state’s endeavors to support certainty after a series of commodity trade finance frauds in recent years. The Singapore Trade Data Exchange (SGTraDex), which was established by bank DBS (DBSM.SI), commodity trader Trafigura and local technology controller, Infocomm Media Development Authority, was introduced on Wednesday, following the strategies put in place last year. “We are attempting to replicate what’s taking place in the real world,” said Antoine Cadoux, chief executive of SGTraDex Services. “The agenda is to adopt paperless technology across the end-to-end process.” “We suppose that with the value we are capable of demonstrating, we can touch that scale relatively faster,” according to Cadoux, a former consultant. Read more: https://ngulminthanglhangh.wixsite.com/ngulminthanglhanghal/post/singapore-s-new-trade-data-sharing-platform-aims-to-regulate-fraud #TradeDataExchange #localtechnology #tradefinance #supplychain #SGTraDexServices #finance #NgulminthangLhanghal
    NGULMINTHANGLHANGH.WIXSITE.COM
    Singapore's New Trade Data Sharing Platform Aims to Regulate Fraud
    The Singapore Trade Data Exchange (SGTraDex) was introduced recently after the strategy was announced last year. Read the full news.
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  • DeFi and Web3 - What Do They Hold For Fintech And Insurtech?

    The current banking & financial system is lagging due to its following of outdated central banking policies, moderate interest rates, illegal migration & trade of goods, money laundering, online fraud, and various global restrictions.

    And this is the reason global traders are looking for more secure, trustworthy & reliable banking & financial solutions to safeguard their worth.

    DeFi

    DeFi or we can say - “Decentralized Finance” - A platform inspired by Blockchain technology, allowing parties-to-a-transaction to get, access, and manage a copy of the same data maintained on a single ie. decentralized network. They can edit, change or amend their documents in real-time, provided with the consent of other members. In simple words, no alteration or amendments can take place without the majority of associated members.

    Read more: https://www.axioscreditbank.com/blogs/defi-and-web3-what-do-they-hold-for-fintech-and-insurtech

    #insuranceservices #financialservice #digitaltradefinance #DecentralizedFinance #Blockchaintechnology
    DeFi and Web3 - What Do They Hold For Fintech And Insurtech? The current banking & financial system is lagging due to its following of outdated central banking policies, moderate interest rates, illegal migration & trade of goods, money laundering, online fraud, and various global restrictions. And this is the reason global traders are looking for more secure, trustworthy & reliable banking & financial solutions to safeguard their worth. DeFi DeFi or we can say - “Decentralized Finance” - A platform inspired by Blockchain technology, allowing parties-to-a-transaction to get, access, and manage a copy of the same data maintained on a single ie. decentralized network. They can edit, change or amend their documents in real-time, provided with the consent of other members. In simple words, no alteration or amendments can take place without the majority of associated members. Read more: https://www.axioscreditbank.com/blogs/defi-and-web3-what-do-they-hold-for-fintech-and-insurtech #insuranceservices #financialservice #digitaltradefinance #DecentralizedFinance #Blockchaintechnology
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  • Contour’s Decentralized Network Digitizing Letters of Credit in Global Trade

    “The $18 trillion-plus international trade market is one of those last industries that are resistant to digital transformation in the financial & banking operations. For example, Letters of Credit are issued in physical form to date which is a time-consuming process that takes weeks to get issued. Contour, in this regard, digitizes LC through its decentralized network that operates on distributed ledger technology, cutting back time & costs while assuring that all the parties stay in sync. This way, Contour is genuinely transforming global trade and making it more efficient, bringing up more opportunities for attracting businesses in different corners of the world.”

    Globalization relies on banks and corporations adapting digital advancements to transform the trade finance sector. Eliminating structural and financial constraints on global trade attracts more businesses to invest and build a strengthened, interconnected global economy.

    International transactions between importers-exporters are more complex than face-to-face exchanges due to distance, and national borders. On one hand, importers want to receive goods even before paying for them while on other hand, exporters want payment surety in full before delivering goods. Not even instant payments can ensure global trades on those terms.

    Read more: https://www.emeriobanque.com/news/contour-digitizing-letters-of-credit-in-global-trade

    #tradefinance #internationaltrademarket #LettersofCredit #globaltrade #tradefinance #Contour #DLT
    Contour’s Decentralized Network Digitizing Letters of Credit in Global Trade “The $18 trillion-plus international trade market is one of those last industries that are resistant to digital transformation in the financial & banking operations. For example, Letters of Credit are issued in physical form to date which is a time-consuming process that takes weeks to get issued. Contour, in this regard, digitizes LC through its decentralized network that operates on distributed ledger technology, cutting back time & costs while assuring that all the parties stay in sync. This way, Contour is genuinely transforming global trade and making it more efficient, bringing up more opportunities for attracting businesses in different corners of the world.” Globalization relies on banks and corporations adapting digital advancements to transform the trade finance sector. Eliminating structural and financial constraints on global trade attracts more businesses to invest and build a strengthened, interconnected global economy. International transactions between importers-exporters are more complex than face-to-face exchanges due to distance, and national borders. On one hand, importers want to receive goods even before paying for them while on other hand, exporters want payment surety in full before delivering goods. Not even instant payments can ensure global trades on those terms. Read more: https://www.emeriobanque.com/news/contour-digitizing-letters-of-credit-in-global-trade #tradefinance #internationaltrademarket #LettersofCredit #globaltrade #tradefinance #Contour #DLT
    WWW.EMERIOBANQUE.COM
    Contour’s Decentralized Network Digitizing Letters of Credit in Global Trade
    Contour's digital Letter of Credit works on a decentralized network based on DLT (Digital Ledger Technology) to streamline & smooth trade finance operations. Know more.
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  • India Exim Sets To Announce Export Factoring For MSMEs

    According to the latest news, the Export-Import Bank of India (India Exim) is all set to introduce its export factoring program for MSMEs (micro and small to medium enterprises) this year to strengthen their liquidity and support non-payment risks.

    When the scheme was approved by its board, the bank intended to carry out pilot transactions by the end of September, as per the statement given by N. Ramesh, India Exim deputy managing director.

    Under the scheme of trade finance, the bank is going to purchase the invoices from the Indian exporters. It will result in the early payment to the exporters while the lender takes the responsibility for payment faults made by the overseas buyers who buy Indian exports. According to the bank, the risk of non-payment is increasing these days.

    Read more: https://www.emeriobanque.com/news/india-exim-sets-to-announce-export-factoring-for-msmes

    #tradefinance #Indianexporters #MSMEs #tradeinsurance #ImportBank
    India Exim Sets To Announce Export Factoring For MSMEs According to the latest news, the Export-Import Bank of India (India Exim) is all set to introduce its export factoring program for MSMEs (micro and small to medium enterprises) this year to strengthen their liquidity and support non-payment risks. When the scheme was approved by its board, the bank intended to carry out pilot transactions by the end of September, as per the statement given by N. Ramesh, India Exim deputy managing director. Under the scheme of trade finance, the bank is going to purchase the invoices from the Indian exporters. It will result in the early payment to the exporters while the lender takes the responsibility for payment faults made by the overseas buyers who buy Indian exports. According to the bank, the risk of non-payment is increasing these days. Read more: https://www.emeriobanque.com/news/india-exim-sets-to-announce-export-factoring-for-msmes #tradefinance #Indianexporters #MSMEs #tradeinsurance #ImportBank
    WWW.EMERIOBANQUE.COM
    India Exim Sets To Announce Export Factoring For MSMEs
    The Export-Import Bank of India is expected to launch an export factoring scheme to strengthen payment systems and liquidity ratios for the MSMEs. Know more.
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  • Market Research, Inc. “Blockchain In Trade Finance and Credit Insurance Market” Report

    The latest research report has been recently published by Market Research, Inc under the title, “Blockchain In Trade Finance and Credit Insurance Market” which gives a comprehensive view of the market’s most popular trends, drivers, future development scope, and complexities that can transform the market dynamics of the worldwide trade finance industry.

    The report gives detailed information on the market segmentation that includes products, applications, and geographical analysis. Along with the drivers and restraints of the market, which are adopted from SWOT analysis, this aforesaid report provides a sneak peek at popular competitors with strategic analysis, micro, and macro market trend & conditions, pricing analysis, and an inclusive overview of the sector situations during the forecast period.

    The “Blockchain In Trade Finance and Credit Insurance Market” report also provides additional data, for example - a detailed subdivision of the market, industry advantages, and current market trends. The report highlights an overview of the market containing different aspects of the market classification, product meaning, and the current competitive scenario.

    Read more: https://www.emeriobanque.com/news/blockchain-in-trade-finance-and-credit-insurance-market-report

    #tradefinance #CreditInsuranceMarket #Blockchain #globalBlockchain
    Market Research, Inc. “Blockchain In Trade Finance and Credit Insurance Market” Report The latest research report has been recently published by Market Research, Inc under the title, “Blockchain In Trade Finance and Credit Insurance Market” which gives a comprehensive view of the market’s most popular trends, drivers, future development scope, and complexities that can transform the market dynamics of the worldwide trade finance industry. The report gives detailed information on the market segmentation that includes products, applications, and geographical analysis. Along with the drivers and restraints of the market, which are adopted from SWOT analysis, this aforesaid report provides a sneak peek at popular competitors with strategic analysis, micro, and macro market trend & conditions, pricing analysis, and an inclusive overview of the sector situations during the forecast period. The “Blockchain In Trade Finance and Credit Insurance Market” report also provides additional data, for example - a detailed subdivision of the market, industry advantages, and current market trends. The report highlights an overview of the market containing different aspects of the market classification, product meaning, and the current competitive scenario. Read more: https://www.emeriobanque.com/news/blockchain-in-trade-finance-and-credit-insurance-market-report #tradefinance #CreditInsuranceMarket #Blockchain #globalBlockchain
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    Market Research, Inc. “Blockchain In Trade Finance and Credit Insurance Market” Report,
    Market Research, Inc. released a research report named, "Blockchain In Trade Finance and Credit Insurance Market" containing market trends, future growth & many more.
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  • Citi eyes Africa supply chain finance boost with support from British International Investment

    Citi has signed a risk-sharing deal with British International Investment (BII), the UK’s development finance institution, as part of plans to increase its supply chain finance volumes in Africa.

    The US$100mn master guarantee facility will see BII – which was formerly known as the CDC Group before a rebrand this year – act as a guarantor for supply chain finance facilities provided by Citi to SME suppliers and underserved segments, with the bank saying that it will be able to increase its annual SCF volumes in the continent by up to US$400mn as a result.

    BII and Citi have agreed to set impact criteria to ensure that flexible capital is being directed toward underserved groups, women-owned businesses and enterprises targeted by the South African government’s Broad-based Black Economic Empowerment programme, which encourages businesses to integrate black people in the workplace, support black businesses, and give back to black communities affected by land repossession.

    Read more: https://ngulminthanglhanghal.wordpress.com/2022/05/20/citi-eyes-africa-supply-chain-finance-boost-with-support-from-british-international-investment/

    #NgulminthangLhanghal #finance #BritishInternational #Investment #CDC Group #ChrisCox #Citi #SMEs #SupplyChainFinance #TradeFinanceGap
    Citi eyes Africa supply chain finance boost with support from British International Investment Citi has signed a risk-sharing deal with British International Investment (BII), the UK’s development finance institution, as part of plans to increase its supply chain finance volumes in Africa. The US$100mn master guarantee facility will see BII – which was formerly known as the CDC Group before a rebrand this year – act as a guarantor for supply chain finance facilities provided by Citi to SME suppliers and underserved segments, with the bank saying that it will be able to increase its annual SCF volumes in the continent by up to US$400mn as a result. BII and Citi have agreed to set impact criteria to ensure that flexible capital is being directed toward underserved groups, women-owned businesses and enterprises targeted by the South African government’s Broad-based Black Economic Empowerment programme, which encourages businesses to integrate black people in the workplace, support black businesses, and give back to black communities affected by land repossession. Read more: https://ngulminthanglhanghal.wordpress.com/2022/05/20/citi-eyes-africa-supply-chain-finance-boost-with-support-from-british-international-investment/ #NgulminthangLhanghal #finance #BritishInternational #Investment #CDC Group #ChrisCox #Citi #SMEs #SupplyChainFinance #TradeFinanceGap
    NGULMINTHANGLHANGHAL.WORDPRESS.COM
    Citi eyes Africa supply chain finance boost with support from British International Investment
    Citi has signed a risk-sharing deal with British International Investment (BII), the UK’s development finance institution, as part of plans to increase its supply chain finance volumes in Africa.
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  • Citi Strives To Boost Africa Supply Chain Finance BII Support

    The latest news highlights a risk-sharing lending arrangement between Citi and BII (British International Investment) worth $100 million, focused on boosting supply chain financing volume in Africa by up to four times as a result.

    Through this US$100mn funding support provided by BII, Citi is looking forward to improving its supply chain lending in the continent for Small and Medium Enterprises (SMEs) that often struggle to access trade finance services or other funding facilities. In the aforesaid deal, BII will deliver its guarantor services for the lending services given by Citi to small importer-exporters and underserved industries. It means that both the parties will bear 50/50 risk - BII would cover half the losses in a situation where a small business fails to pay the loan granted by Citi.

    “The recent Master Guarantee risk-sharing deal will enable Citi’s supply chain financing structure to grow & enhance in Africa by up to $400 million” BII stated.

    Read more: https://www.emeriobanque.com/news/citi-strives-to-boost-africa-supply-chain-finance-bii-support

    #tradefinanceservices #SMEs #supplychainfinanceservices #SCFservices #globalfinancial
    Citi Strives To Boost Africa Supply Chain Finance BII Support The latest news highlights a risk-sharing lending arrangement between Citi and BII (British International Investment) worth $100 million, focused on boosting supply chain financing volume in Africa by up to four times as a result. Through this US$100mn funding support provided by BII, Citi is looking forward to improving its supply chain lending in the continent for Small and Medium Enterprises (SMEs) that often struggle to access trade finance services or other funding facilities. In the aforesaid deal, BII will deliver its guarantor services for the lending services given by Citi to small importer-exporters and underserved industries. It means that both the parties will bear 50/50 risk - BII would cover half the losses in a situation where a small business fails to pay the loan granted by Citi. “The recent Master Guarantee risk-sharing deal will enable Citi’s supply chain financing structure to grow & enhance in Africa by up to $400 million” BII stated. Read more: https://www.emeriobanque.com/news/citi-strives-to-boost-africa-supply-chain-finance-bii-support #tradefinanceservices #SMEs #supplychainfinanceservices #SCFservices #globalfinancial
    WWW.EMERIOBANQUE.COM
    Citi Strives To Boost Africa Supply Chain Finance BII Support
    British International Investment (BII) and Citi have signed a $100 million risk-sharing facility to boost supply chain financing to SMEs across Africa. Read the full news.
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