50 Years Facilitating Open Account - Trade Finance

Report on ADB Seminar on Trade & Supply Chain Finance Istanbul, 12 November 2018

Monday 19 November 2018

The global trade landscape is facing new and ever increasing challenges. Faint voices of protectionism have evolved into direct trade friction, if not a trade war, between the largest trading nations in the world. The pace of change astounding. Countries that were seen as the darlings of the trade finance industry are seeing credit lines evaporate amid currency turmoil. Geo-political risks are mounting.
Technology has promised great advancement for burdensome documentary-based and intensive trade finance, but has the potential been realised? Is blockchain unfolding as a disruptor and enabler across the international trade and finance landscape? Is compliance at a tipping point for the trade finance industry or are we only seeing the tip of the iceberg? Is sustainability sustainable?
During the ADB seminar in Istanbul on 12th November, nearly 100 bankers and trade finance experts from Central Asia, the Caucasus, Mongolia, Pakistan and Turkey discussed the practical aspects of international trade and supply chain finance, where key issues and innovations within the industry is presented.
The seminar started with a panel discussion that provided an up-to-date analysis of compliance challenges facing the trade finance industry and some solutions. After the panel discussion, speakers from ICC Banking Commission, ADB, Convergence Capital Group, Xacbank Mongolia and FCI delivered presentations about trade finance and supply chain finance solutions. FCI was represented with a presentation about “The Growth of Open Account Receivables Finance and SCF Solutions “FCIreverse” by Aysen Cetintas, Education Director.