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Financial technology (FinTech) startup Ripple says it has acquired another 13 customers for its RippleNet global payment network, including letter of credit (L/C) specialist Euro Exim Bank.
A central banker in Yemen has denied claims that letters of credit (L/Cs) for much needed food imports to alleviate widespread hunger in the country divided by war are only available in certain areas.
Global technology research and advisory company Technavio has published a report highlighting the penetration of blockchain technology in marine transportation as one of the key trends in the global refrigerated sea transportation market.
India's ICICI Bank has announced that it has revamped its Trade Online platform for export and import transactions by introducing an array of new digital services on it, including online letter of credit (L/C) offerings.
New misconduct allegations brought by Japanese prosecutors say that someone helped the sacked Nissan chairman Carlos Ghosn obtain a letter of credit (L/C) to help bail him out of financial difficulties.
Blockchain start-up Primechain Technologies has launched a platform that it claims enables the issuance and sharing of letters of credit (L/Cs) in a secure and confidential manner.
A Chinese battery firm has simply failed to issue letters of credit (L/Cs) to renege on a three-year contract to buy cobalt hydroxide from miner-trader Glencore.
The Ghanaian government has renegotiated a controversial power purchase agreement (PPA) between Ghana and Africa and Middle East Resources Investment Group (Ameri).
International police organisation Interpol has issued a Red Corner notice against absconded billionaire diamond trader Mehul Choksi who is accused of cheating state-run Punjab National Bank (PNB), allegedly in collusion with his nephew, celebrity jeweller, Nirav Modi.
Foreign banks are refusing to accept letters of credit (L/Cs) for transactions involving Nicaragua according to the president of the country's Consultants for Business Development group, Nestor Avendano.
India's ICICI Bank is expected to appoint a forensic auditor to probe allegations of improper use of letters of credit (L/Cs).
The man at the centre of the 2014 Qingdao metal warehousing scandal in China that had the impact of making letters of credit (L/Cs) much harder to come by for commodity traders in the region has been jailed.
Two officials at India's Corporation Bank have been arrested and two more are reportedly under investigation in a fraud case involving letters of credit (L/Cs).
Trade Bank of Iraq, Standard Chartered and General Electric (GE) have closed what they claim to be the region's largest letter of credit (L/C) confirmation of its kind.
A digital letter of credit (L/C) provided by the Komgo financing platform is to feature in crude oil deals conducted on a live blockchain-based platform called Vakt that recently went live.
China Dasheng Bank Limited (CDBL) has become the latest bank to provide letters of credit (L/Cs), guarantees and other trade finance services in Tanzania and beyond.
Letters of credit (L/Cs) for Libya's formal economy are beginning to flow again according to the deputy prime minister of the UN-backed Libyan government, Ahmed Maiteeg.
Puerto Rico based Stern Bank is expanding its operations by opening a trade finance operation in London.
The African Export Import Bank (Afreximbank) and the UK's development finance institution, CDC Group, have signed a US$100 million participation agreement to support the bank's Trade Facilitation Programme.
Fuel shortages in Zambia have been blamed on a lack of foreign exchange for letters of credit (L/Cs), but the Zambian finance minister says there is no longer an L/C shortage.
HSBC India and ING Bank Brussels have successfully executed a blockchain enabled, live trade finance transaction incorporating a letter of credit (L/C) jointly with Reliance Industries and Tricon Energy.
SWIFT and financial technology company, MonetaGo, are to collaborate to develop a blockchain system to help Indian banks prevent fraud.
BNP Paribas and HSBC Singapore have completed Singapore's first fully digitised end-to-end letter of credit (L/C) transaction between two different companies.
Letters of credit (L/Cs) will not be available for four days from First Abu Dhabi Bank (FAB) as it shuts down for four days later this month.
Private and state banks in Myanmar have once again begun offering letters of credit (L/Cs), raising hopes the country's trade finance operations are reviving.
The SWIFT financial messaging service has said it will suspend access for at least some Iranian banks.
Singapore based NR Capital, which offers an alternative to traditional balance sheet lending to small- and medium-sized enterprises in the bulk commodity market sector, says it will implement Chinsay's Contract Management Platform to digitalise the process of drafting, issuing and validating commodity contracts.
Qatar's Doha Bank has cut its exposure to the UAE banking system through an asset swap with UAE banks amid strained relations between the two countries, according to the Reuters news agency.
Coinsilium Group, which describes itself as a blockchain venture builder, advisor and investor, has signed an advisory partnership agreement with LC Lite, a firm developing a letter of credit (L/C) platform that aims to connect buyers and suppliers on a single online system.
A new blockchain-based trade finance platform developed by HSBC, Standard Chartered and 10 other banks, aims to reduce the risk of fraud in letter of credit (L/C) transactions.
Eight banks and blockchain technology specialist R3 have launched a new initiative named Voltron that initially aims to use blockchain technology to bring significant efficiencies to transacting letters of credit (L/Cs).
Deutsche Bank and Standard Bank of South Africa have signed a memorandum of understanding (MoU) to closely cooperate under the US government's programme designed to encourage exports of certain US agricultural output to eligible emerging markets.
National Bank of Canada (NBC) has collaborated with ICT and business consulting services firm CGI and blockchain technology start-up Skuchain on a pilot programme aimed at improving and streamlining the processes for negotiating standby letters of credit (L/Cs) and guarantees.
Global banking giants have joined forces to create the Trade Information Network, which they say will accelerate the digitisation of traditionally paper-based processes, including letters of credit (L/Cs) and provide trade finance needs currently unmet in the early links of the supply chain.
ICICI Bank of India has filed a petition in a US court against 11 executives of Mumbai-based diamond company Shrenuj and Co for allegedly defrauding the bank.
A UK-based man who fraudulently purported he could provide valuable standby letters of credit (L/Cs) has been jailed for eight years.
The managing director of non-bank provider of domestic, import, and export trade finance products, ExWorks, says his firm can help companies finance their supply chains even when they have insufficient balance sheet strength to open letters of credit (L/Cs).
Nigeria's Union Bank has launched what it calls a local letter of credit (L/C) at a trade finance conference for its corporate customers in Lagos.
A small town in the US state of Kansas is a letter of credit (L/C) away from having its own grocery store for the first time in 17 years.
Sri Lanka's central bank has imposed a requirement that importers of certain goods must buy on letter of credit (L/C) terms.