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The National Bank of Angola (BNA) is conducting eight foreign exchange auctions in September to make euros available for letter of credit (L/C) transactions.
Indonesia wants the country's power generators and refineries to pay for imports on letter of credit (L/C) terms as part of the government's efforts to reduce imports and support the flagging rupiah.
Turkey is looking to renegotiate its defence contracts so that letter of credit (L/C) and other future obligations are denominated in Turkish lira rather than US dollars.
The Reserve Bank of India (RBI) has reported a quantum leap in bank frauds in the 2017-18 financial year.
Two of the largest US financial institutions are reportedly not committing to cutting Iranian access to international letter of credit (L/C) markets by banishing Iran from the SWIFT messaging network.
Redwood Markets and One Source Risk Management have chosen EH Energy, a division of Euler Hermes North America Insurance, to lead a syndicate of underwriters to handle trade credit insurance for the liquefied natural gas (LNG) market through its online trading platform, the Redwood Marketplace.
Standard Chartered has announced that it is working with Siemens Financial Services on blockchain-based bank guarantees that could provide an alternative for letters of credit (L/Cs) for traders in the UAE.
Plummeting values of letter of credit (L/C) openings are pointing to a substantial weakening of Saudi Arabia's economy.
Specialist Australian finance house Crossway Capital says it has developed a letter of credit (L/C) based structured finance product for major infrastructure projects that has hitherto only been available in the US.
Sri Lanka is using letters of credit (L/Cs) to ensure that imported used vehicles meet the country's new emission standards.
The Central Bank of Nigeria (CBN) has created a special window making funds available for renminbi denominated letters of credit (L/Cs).
The UK authorities have confirmed that celebrity Indian jeweller Nirav Modi, who allegedly used letters of credit (L/Cs) and letters of understanding (LoUs) to defraud India's Punjab National Bank (PNB) of US$2 billion, is in their country.
The deepening trade war between the US and Turkey is making it hard for Turkish importers to raise the letters of credit (L/Cs) they need to buy distillers dried grains with solubles, better known as DDGS, from US suppliers.
Banks are reportedly becoming increasingly reluctant to write letter of credit (L/C) business for transactions between Turkish sellers and western buyers of steel following Washington's decision to double tariffs on steel and aluminium imports from Turkey and threats from US President Donald Trump's of more punitive sanctions to come.
India's Punjab National Bank (PNB) is likely to shut down its Kowloon branch in Hong Kong in the next few days according to local media there.
The Global Network of Export-Import Banks and Development Finance Institutions (G-NEXID) met recently in Geneva to discuss how member states could collaborate to close the trade finance gap.
The currency swap deal between China and Nigeria is expected to boost letter of credit (L/C) transactions between the two countries according to a Nigerian business leader.
A parliamentary committee has said the Reserve Bank of India (RBI) should rescind its decision to discontinue the issuance of letters of credit (L/Cs) and letters of undertaking (LoUs) for trade credit.
Africa's Trade and Development Bank (TDB) wants to position itself as a key regional financial institution to complement the activities of other development finance institutions on the continent such as the African Development Bank and East African Development Bank according to Uganda's finance minister, Matia Kasaija.
Prices of Indian tea, much of which is exported to Iran, have fallen 9.1 per cent year-on-year as India's banks increasingly turn down requests for rupee-denominated letters of credit (L/Cs) for trades with Iran, according to the Indian Tea Association (ITA). The association's chairman blames uncertainty about trade with Iran after President Donald Trump pulled the US out of a 2015 nuclear pact with Iran and ordered new US sanctions on Tehran.
A new blockchain-based trade finance platform to be developed by the Hong Kong Monetary Authority (HKMA) will eventually provide an alternative to letters of credit (L/Cs) for traders looking for secure open account transactions.
Turkey appears determined to keep writing letter of credit (L/C) business with Iran despite tougher sanctions imposed on the Islamic Republic by Washington.
Ethiopia's radically reformist new prime minister is introducing policies that appear to be allowing letters of credit (L/Cs) to flow after years of traders being unable to obtain them due to foreign currency shortages.
A state-backed financial asset exchange in China's Chongqing city is looking to develop a blockchain solution that could be used for letter of credit (L/C) auctions.
Libyan officials who have been profiting from letters of credit (L/Cs) obtained to manipulate the official and black market exchange rates could be subject to a wide-ranging corruption probe.
Banks that finance trade in Asia are concerned that the tariff war between the US and China will put further pressure on revenues from their letter of credit (L/C) and wider trade finance operations.
The National Bank of Angola (NBA) has carried out a euro currency sale using funds earmarked just a month ago for import letters of credit (L/Cs).
The African Export Import Bank (Afreximbank) has disbursed over a third of the US$25 billion facility that provides letters of credit (L/Cs) to facilitate intra-African trade, the bank's president and chairman has said.
India's Central Bureau of Intelligence (CBI) has charged three Mumbai-based firms for cheating State Bank of India (SBI) using letters of credit (L/Cs).
Canada's Innergex Renewable Energy is using a letter of credit (L/C) in the financing package it has arranged for its 250 megawatt photovoltaic solar project that, when completed, will be the largest of its kind in the US state of Texas.
National Institution for Transforming India (Niti) is proposing a new policy that would relax the stringent collateral conditions for loans and letters of credit (L/Cs) to jewellers to buy gold.
Letter of credit (L/C) business is booming for private banks in Bangladesh according to a senior banker.
The US treasury department's Office of Foreign Assets Control (OFAC) has issued a notice of amendments to US institutions using letters of credit (L/Cs) in transactions with Iran.
Ecobank Zimbabwe has written over US$150 million worth of letter of credit (L/C) business in the Zimbabwean market in the last eight months according to the bank's chairman.
A whistleblower has accused India's ICICI Bank of issuing hundreds of letters of credit (L/Cs) to entities related to its troubled corporate borrowers to help them avoid defaulting on their loans according to local media reports.
Zambian President Edgar Lungu has ordered several austerity measures, including a ban on the issuance of letters of credit (L/Cs) to some state-owned enterprises, in an attempt to address Zambia's sharply deteriorating debt crisis.
Letters of credit (L/Cs) look likely to become the preferred financial instrument for imports into Angola according to the head of the country's central bank.
The government of Bangladesh has proposed extending the coverage of advance income tax (AIT) on domestic letters of credit (L/Cs) or any financing agreement for purchasing goods
China CITIC Bank says that during its 2017 financial year it facilitated blockchain-based domestic letter of credit (L/C) transactions worth a total of US$156 million.
A UK based business chamber has certified an export consignment from an engineering company using blockchain.