Dear Members and Friends, We are now in a world dominated by the outbreak of COVID19. As I write this message, the Covid-19 crisis has now reached a new critical phase where public health systems need to act decisively to contain the growth in new epicentres outside China. Clearly, the main emphasis is and should be on […]

Is your data house in order? Long considered a pure technical function, archiving transaction data was a topic for the IT people to take care of. The need to access those archives was fairly limited and mostly linked to ad-hoc operational needs. Over the last decade though, regulatory requirements increased the importance of this function, […]

Over the last few years, ITFA has been ratcheting up its support of its members, and today is the driving force behind a number of market-defining initiatives, from projects aimed at the digitalisation of trade, to making sure that policymakers and regulators are well-versed in the relationship between banking and insurance. But how does the […]

For where two or three are gathered together, there shall be performed the Parrot Sketch” instructs Monty Python. If the same rule of inevitability applied to trade finance conferences, the role of the parrot would be played by the perennial figure of the $ 1.5 trillion trade gap as measured by the Asian Development Bank. […]

The first event of the year was the ESG Seminar on 06th February. ESG refers to the three central factors (Environmental, Social and Governance) used to measure the sustainability and ethical impact of a company or investment. ESG has considerably developed over the past 5 years and different companies integrate ESG into their decision-making process via […]

ITFA is pleased to welcome the following four institutions to its growing family: Scandinaviska Enskilda Banken AN (publ) (SEB) founded 1972 is a financial group for large corporates and financial institutions, corporate and private customers, life and investments management and baltics, authorized to provide banking and financial services under supervision of Swedish financial supervisory authority […]

Dear Members and Friends, Welcome to our February Muse. Three and a half years after the vote to exit the EU, the UK has officially left the bloc on 31st January 2020, the first time ever for the EU to lose a member. The world now awaits how the relationship will be managed. A rather long wait […]

Following an initial educational phase of 2 years, the ITFA Fintech Committee is shifting gear with two strategic initiatives that tackle industry-wide ambitions. By facilitating collaboration amongst multiple fintechs and contributing through its expertise in defining new market practices, the ITFA Board demonstrates again it is best positioned to deliver more value to its core membership. […]

If you haven’t done so already, I strongly recommend that ITFA members with any interest in, or link to, credit insurance take a look at the publication entitled ‘A brief guide on credit insurance as a risk mitigation tool when used by the banking industry’ authored by Matija Vodoplav from BNP Paribas. The guide provides […]

Although last year’s consultations by the European Banking Authority (EBA) and European Commission have now closed, the need to engage with regulatory authorities – both at the supranational (e.g., EU) and at the national levels – is as strong as ever.  However, having submitted answers to the questions posed in the consultations, the questions we […]

Response to the European Commission consultation As many of you will know, ITFA has been engaging in its own advocacy work on behalf of its members and the wider industry, and has been co-operating with Hume Brophy – a Brussels-based consultancy specialised in European public affairs – to ensure that policymakers and regulators are well-versed […]

The ITFA Middle East Regional Committee hosted a roundtable event to discuss the opportunities for growth in the region against the current geopolitical backdrop, and how insurers, fintech companies and banks can work together to keep the wheels of trade turning. Roundtable participants: Semih Ozkan, chair of the Middle East Regional Committee, ITFA Maninder Bhandari, […]

ITFA, represented by Hernan Mayol, Managing Director, EIA Global and Member of the Americas Regional Chapter (AMRC) organized the first trade finance session of 2020 in Panama, key center of commercial activity in Latin America. His summary Global Trade Finance Outlook for 2020, gave an opportunity to 20 plus local bankers from top financial institutions […]

5th February saw the first major ITFA event of 2020 take place in London. The North European Regional Committee (NERC) hosted a well-attended seminar that covered three topics of current interest in the trade finance market, namely Structured Letters of Credit, Brexit and Chinese investment in Africa. First up was a panel discussion on Structured LCs, […]

ITFA is pleased to welcome five new members to its growing association: Beacon is a London based modern freight forwarder and trade finance provider. They have designed a platform that makes it easy for companies of all sizes, book and track shipments. Their platform will also finance deals for their freight customers, allowing companies the […]

Dear Members and Friends, On behalf of the ITFA Board, I would like to take this opportunity to wish you and your families a Happy New Year and all the very best for 2020. May the year ahead bring good health, peace and happiness. What a dramatic start to a new decade! Whilst taking an […]

ITFA (www.itfa.org) is pleased to announce that it has joined forces with The Association of Trade and Forfaiting (ATFA) under a transition agreement effective 31st December 2019.  With that agreement, ATFA will operate as  “ITFA Americas” and become ITFA’s Regional Chapter for the Americas (AMRC). This is an exciting milestone for both associations, their respective […]

ITFA’s Northern European Regional Committee (NERC) has welcomed three new members. Peter Sargent from DNB Bank, Olga Kompaniets from AIG and Ingrid Kreuk from ABN Amro have all joined the association’s largest regional committee. Karl Page from Barclays, who remains the NERC chairman, comments on the committee’s aspirations for 2020: “The NERC membership has a […]

Negative interest rates are counter-intuitive. In a world where prudent savers are punished for saving and profligate borrowers are rewarded for borrowing, something is not on. The expression ‘time is money’ appears to have lost its logic. The trend began in the aftermath of the Global Financial Crisis (GFC) of 2008, when the central banks […]

What a crazy year for ITFA’s Emerging Leaders (EML’s) – from a name change to new faces on the panel including more international presence from Singapore, India, Netherlands and of course the UK. We are looking to expand our network in Europe, Middle East, Pan Africa and the Americas too – do reach out to […]