Forgot your password?
Please enter your email & we will send your password to you:
My Account:
Bangladesh-based Mutual Trust Bank (MTB) has signed a master murabaha agreement with the International Islamic Trade Finance Corporation (ITFC), a subsidiary of the Islamic Development Bank (IsDB).
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the International Islamic Trade Finance Corporation (ITFC), both part of the Islamic Development Bank (IsDB) Group, have signed a strategic agreement aimed at enhancing documentary credit facilitation to support trade across member countries.
The UK's development finance institution and impact investor, British International Investment (BII), has extended a US$50 million trade finance facility to Ghana International Bank (GHIB) to improve the availability in Ghana of letters of credit (L/Cs), trade loans, and other trade-related financial instruments.
Russia, in its current negotiations for a truce with Ukraine - reportedly only with the US so far - is requesting to be reconnected to SWIFT, the global financial messaging system used by banks for secure communication of transactions, including letters of credit (L/Cs).
US President Donald Trump's efforts to suspend US development aid payments pending a comprehensive review have been compromised by financial obligations, including letters of credit (L/Cs), that have already been entered into by the United States Agency for International Development (USAID).
Japan's MUFG Bank has successfully completed its first fully digital trade finance transaction through its GIFT City branch in Gujarat, India. It involved a US$15 million letter of credit (L/C) for a subsidiary of Tata International Limited, the global trading arm of the Tata Group.
Standard Chartered has introduced an innovative sustainability-linked trade finance facility for Siemens Energy, spanning eight countries across the Middle East, Africa, and Pakistan.
Operational efficiencies in letter of credit (L/C) processing can be greatly enhanced with AI according to tech giant, Microsoft in a blog that summarises how trade finance is now undergoing rapid and fundamental change, thanks to the advent of cloud and AI technologies.
The High Court in London has ruled in favour of Litasco, a Swiss petroleum trading company, in its dispute with Mauritanian bank Banque El Amana (BEA) over a standby letter of credit (L/C).
The Indian government has extended its practice of issuing state guarantees, traditionally provided to state-owned commercial banks (SoCBs), to include private commercial banks (PCBs).
This document contains the Guidance Paper on the Use of Sanctions Clauses in Trade Finance-related Instruments Subject to ICC Rules (2014) and the Addendum to Guidance Paper (2020)
Anvil has launched a DeFi protocol - a set of rules and systems built on blockchain technology - for letters of credit (L/Cs) that allows people to access financial services without needing traditional banks or intermediaries.
Tanzania is actively exploring the use of alternative currencies, such as the Indian rupee, Chinese yuan, and Russian rouble, that can be used in letters of credit (L/Cs) and other trade finance instruments.
Russia and Ethiopia are actively exploring the feasibility of conducting trade using their respective national currencies, aiming to reduce reliance on the US dollar and enhance economic cooperation.
Nazrul Islam Mazumder, chairman of Bangladesh-based NASSA Group and a former chairman of the Export Import Bank of Bangladesh (EXIM Bank), has been implicated in significant trade-based money laundering (TBML) activities.
Greenbacker Capital Management, a US-based investment firm specialising in sustainable infrastructure and renewable energy projects, has announced a major milestone in renewable energy development, securing nearly US$1 billion in financing to acquire and construct the largest solar energy project in New York State.
Nigeria's Wilben Trade, a global merchant trading company, and its founder Marcus Wade are currently facing prosecution in Nigeria over allegations of letter of credit (L/C) fraud amounting to approximately US$42.5 million.
Veefin Solutions, an Indian technology company specialising in digital lending and supply chain finance solutions, has announced the acquisition of TradeAssets, a digital trade finance platform.
Standard Chartered has announced that its flagship Trade Institute has received full accreditation from LIBF (formerly known as the London Institute of Banking and Finance) which provides, amongst other offerings, specialised training in letters of credit (L/Cs) through their Certificate for Documentary Credit Specialists (CDCS) programme.
BNP Paribas has initiated legal action in London against Sharjah-based oil trader, Gulf Petrochem, alleging that the company utilised false invoices to fraudulently obtain letters of credit (L/Cs) and other financing facilities.
Nigeria has experienced a significant decline in foreign trade payments conducted through letters of credit (L/Cs), with a reduction from US$1.07 billion in 2023 to just US$506.1 million in 2024.
Singapore-based technology solutions provider CSE Global Limited and one of its subsidiaries is seeking to recover US$6 million paid under a standby letter of credit (L/C).
Lloyd's List Intelligence has reported that ship recycling levels in 2024 reached the lowest point since 2005. The decline was driven by several interconnected factors, including increasingly difficult economic, financial, and regulatory environments.
Egyptian businesses in priority industrial sectors will need to put up letters of credit (L/Cs) if they want to benefit from the government's ambitious initiative to bolster sectors facing increasing competition from Turkey and China.
Giesecke+Devrient (G+D), a long-established German security firm says it has developed an 'internet of things' (IoT) solution that integrates with external trade payment solutions and can replace letters of credit (L/Cs).
A North American owner, operator and developer of renewable energy projects, Revolve Renewable Power, has secured an innovative facility from Export Development Canada (EDC) that will allow it to issue letters of credit (L/Cs) without putting up cash collateral.
African fintech Breeze has announced that it has developed a digital platform that it claims will revolutionise letter of credit (L/C) processing.
ContourGlobal, an independent power producer with a diversified global presence, has closed its US$612 million refinancing of a 1,205 megawatt portfolio of natural gas power plants located in California, New Mexico and Texas.
Nigeria and China have renewed their bilateral currency swap agreement (BCSA) that was originally agreed in April 2018 and which enables the exchange of 15 billion yuan (US$2 billion).
The new Dangote Petroleum Refinery near Lagos in Nigeria has reduced the ex-depot price of a litre of petrol to 899.5 naira (N899.50 - 58 US cents) down from the previous rate of N970.
India's Enforcement Directorate (ED) has provisionally attached land parcels and residential properties valued at approximately 48.71 crore rupees (Rs48.71 - US$5.9 million) belonging to Transstroy (India) in a case involving the misuse of letters of credit (L/Cs).
Egypt's new commodities importer has asked Russian grain exporters to come up with ways to reduce transaction costs on wheat deals, according to Dubai-based publication Asharq Business.
South Korea's Woori Bank is providing more favourable letter of credit (L/C) terms in its 500 billion won (US$343 million) financial support package designed to help Korean importers and exporters overcome the country's foreign exchange crisis.
Approximately 40,000 workers from 16 closed factories of the Beximco Group formed a 10-kilometre long human chain this week along a major highway in Bangladesh in a protest demanding the resumption of letters of credit (L/Cs) and the reopening of factories.
The former CEO of Orlen Trading Switzerland (OTS), referred to as 'Samer A' due to privacy laws, is under investigation for authorising advance payments totalling approximately US$400 million for oil deliveries that were never fulfilled.
Reduced reliance on letters of credit (L/Cs) has contributed to strong earnings at Lloyd's of London in the first half of 2024 according to a report published by Moody's Ratings.
The High Court of Australia has declined to intervene in the case concerning an abandoned 185 million Australian dollar (A$185 million - US$115 million) property development in Gosford, New South Wales.
African banks are increasingly engaging with China to facilitate trade and investment, focusing on establishing operations in China and promoting yuan-denominated letters of credit (L/Cs) and other financial instruments.
The latest ICC Opinions from the Banking Commission Meeting held in November 2024 are now available under the Trade Finance Channel of the Digital Library: