International Trade Finance Cases :

Analysis and Solutions

Seminars with ICC Bangladesh

"The Advent and continuing challenges of the financial crisis has seen a dramatic increase in payment defaults and discrepancies leading to disputes between trading partners in international trade", said ICCB President Mahbubur Rahman while inaugurating the daylong workshop on International Trade Finance: Cases-Analysis and Solutions organised by the ICC Bangladesh with eBSI at Bangabandhu International Conference Centre, Dhaka on March 9. This increase in risk has seen a surge in returning to the use of the traditional trade finance instruments such as commercial letters of credit and standby letters of credit by the parties.

The ICC Bangladesh President also said that International Trade has exerted a profound influence on the economic growth of the country. It has been observed that with the opening up of the economy and liberalization of trade, developing countries, especially India and China, have grown over the years.

International trade injects global competitiveness and hence the domestic business units tend to become very efficient being exposed to international competition. Due to the integration with the world economy the entrepreneurs can have easy access to technological innovations. They can utilize the latest technologies to enhance their productivity. In this regard, it is also important for professionals and others concerned to be proficient in international trade finance, he added.

According to the recently published global survey ‘Rethinking Trade Finance 2010’on trade finance by the World Trade Organisation (WTO), 34% of respondents had seen an increase in refusals, 44% had seen an increase in claims under standby LC’s, 23% of respondents (up from 12% in 2009) had experienced an increase in the number of court injunctions stopping payment under bank undertakings and 73% of respondents experienced increases in confirmations, Vincent O'Brien added.

The ICC Bangladesh President observed that international trade injects global competitiveness and hence the domestic business units tend to become very efficient being exposed to international competition. Due to the integration with the world economy the entrepreneurs can have easy access to the technological innovations. Therefore, there is an urgent need for advanced knowledge in documentary credit operations and management and essential for the professionals concerned to be proficient in the international trade finance, he concluded.
Chairman of ICCB Standing Committee on Banking Technique & Practices, Mamun Rashid in his welcome address said that presently more than 80% transactions are made through open ended L/Cs. So he hoped that Bangladeshi exporters within the shortest possible time will be able to follow the international practice.

ICCB Secretary General Ataur Rahman mentioned that for the first time ICC Bangladesh has organized this particular workshop covering actual cases for the participants to achieve maximum practical benefit in everyday documentary credit operations and risk management. He also said that since 2008 ICC Bangladesh has been organizing regular IFC FIT Initiative (Finance of International Trade), developed jointly by ICC Bangladesh and eBusiness School International of Ireland (eBSI) with support from International Finance Corporation (IFC) and Certified Documentary Credit Specialist (CDCS) Examin- ation of ifs School of Finance, UK.

A long standing Member of the ICC Banking Commission and a representative of ICC Banking Commission to the WTO Expert Group on the Financial Crisis Vincent O’Brien,from eBSI conducted the workshop on the occasion.

A total of 109 participants from banks, financial institutions and export oriented industries attended the workshop in Dhaka. The second workshop on the same topic was held in Chittagong on March 10, where 45 participants took part.

Another course intake of the IFC FIT Program will be taking place to start off in November 2011. Dont miss out on this great training and professional development opportunity!

Contact details for enrolments of the IFC FIT Program in Bangladesh:

Ataur Rahman
Secretary
ICC Bangladesh
Tel: 880-2-862-1942 or 880-2-967-6698
Fax: 880-2-862-1027
E-mail: < This e-mail address is being protected from spambots. You need JavaScript enabled to view it > or < This e-mail address is being protected from spambots. You need JavaScript enabled to view it > .

Incoterms 2010 with ICC Bangladesh

eBSI and ICC Bangladesh delivered a series of seminars on the new Incoterms 2010 starting with a seminar in Chittagong on 5 December and then continuing with a two day event on 6 and 7 December 2010 in the country's Capital, Dhaka.

Local coordinator for the IFC FIT Progam Mr Bakhteyer Hossain also  attended the seminar.

The seminars also gave occasion to celebrate the latest batch of graduates of the IFC FIT Program online Finance of International Trade Certification as pictured above at the graduation ceremony in Dhaka on 6 December 2010.

The seminar in Chittagong on 5 December was very well attended by both traders and bankers.

Graduates of the IFC FIT Program in Chittagong, Bangladesh.

These timely and important workshops are part of a serious in a number of countries that Vincent O'Brien has been delivering since the launch of the new Incoterms 2010 in September 2010.

Check out Vincent's video commentary on Incoterms 2010 at http://www.ebsi.ie/trade-news/international-trade-broadcasts

Another course intake of the IFC FIT Program will be taking place to start off on the week of 28 February 2011. Dont miss out on this great training and professional development opportunity!

Contact details for enrolments of the IFC FIT Program in Bangladesh:

Ataur Rahman
Secretary
ICC Bangladesh
Tel: 880-2-862-1942 or 880-2-967-6698
Fax: 880-2-862-1027
E-mail: < This e-mail address is being protected from spambots. You need JavaScript enabled to view it This e-mail address is being protected from spambots. You need JavaScript enabled to view it > or < This e-mail address is being protected from spambots. You need JavaScript enabled to view it This e-mail address is being protected from spambots. You need JavaScript enabled to view it > .

Graduation Ceremony FIT Initiative in Dhaka

Dhaka, Banagladesh

On 3rd December, 2008 the first Graduation Ceremony of the IFC FIT Initiative was held in Dhaka, Bangladesh!

eBSI First Director, Mr. Vincent O'Brien oversaw the Graduation ceremony with the assistance of Local Coordinator Mr. Bakhteyer Hossain. Over 50 Bangladeshi professionals mainly from the Banking Sector graduated at this highly successful event!

Graduates received their ICC UCP 600 Certificates and a Certificate in Finance of International Trade from the Institute of Export at the events. Two such Graduates, Mr Omar Faruque Khan and Mr. Kazi Quamrul Islam are pictured above with Vincent O'Brien at the event. IFC FIT Initiative is hosting the online collaboration for this forum at http://bangladesh.ifcfitinitiative.net/dcfc where members can engage in private discussions, post events and share opinions. Join today!

Induction Seminar of the IFC FIT Initiative

Dhaka, Bangladesh ICC Bangladesh Training Center. On 24st March, 2008 the Bangladesh roll out of the IFC FIT Initiative was launched!

One of the first steps in this program was to arrange an induction seminar to provide participants with the course materials they would be using over the 3 months of their studies and to take them through the procedures for using the online and CD ROM based course materials.

Local Tutor Md. Bakhteyer Hossain, ICC Bangladesh President Mr. Mahbubar Rahman and ICC Bangladesh Secretary Mr. Ataur Rahman at the induction seminar for Bangladeshi participants of the IFC FIT Initiative.

IFC FIT Initiative participants listening attentively as the program study methodology is explained to them.

Participants are given their CD ROM materials at the conclusion of the induction seminar... next time they would meet would be online on the IFC Global Trade Finance Campus!

IFC FIT Initiative is hosting the online collaboration for this forum at http://bangladesh.ifcfitinitiative.net/dcfc where members can engage in private discussions, post events and share opinions. Join today!