Bank of Nova Scotia (BNS.TO) and Bank of Montreal (BMO.TO) have posted over C$2.18 billion ($1.65 billion) and C$1.05 billion ($0.75 billion) respectively, as their provision of losses for the third quarter. The losses are said to ‘decline substantially’ in the coming months. With Bank of No...
The Trade Finance Report is a comprehensive outcome of a professional and in-depth research on major regional markets around the world. It includes information about the effects of the COVID-19 pandemic on the market and the effective strategies that can normalize the situations in the coming years....
The joint statement signed today by Rishi Sunak and Ueli Maurer the Head of Switzerland’s Federal Department of Finance, is the most ambitious commitment made by two countries to develop an international agreement on financial services. It signals the UK’s ambition to continue to cement its role...
Authentic and secure transactions across nations. SWIFT CODE is a unique identifier that an account holder uses to identify the particular country, bank and branch of another account holder where the account is registered. In simple words, it is a form of bank identification. This internationa...
The $1.5 trillion trade finance gap has long cast a shadow over the market. This shadow looms not least because of its vast scale, but because of its disproportionate impact on emerging markets, SMEs, and women and minority-owned businesses. Over the years, banks have developed a toolkit of solu...
Turkey seems to be on a loose soil as far its economic ties are concerned. Following a series of measures taken by the country’s authorities, it could be demoted to “frontier” status by MSCI, one of the world’s most important providers of indices. According to sources, MSCI had announced ...
Kofax Launches Global Trade Finance Solution – Digitally Transforming High Volume, Complex Document Processing
While the world is reeling from the COVID-19 crisis, alongside the trade finance gap, the role of banks and other financial entities has become crucial for the aid of traders globally. Now, it is seen that banks and fintech companies are fully aware of their responsibility of supplying funds to ...
It is often seen that people perceive both the Letter of credit and Bank guarantee through the lens of functionality. They have a preconceived notion that BG and Letter of credit are the tools to facilitate international trade through secure and timely payments. However, this is not an appt assessme...
On 17th June, the HM treasury unveiled promising figures regarding the total value of the loans extended to the businesses stranded due to the COVID crisis. According to the released figure, £38.2 billion has been passed on through the banking and financial institution following the government loan...
Amidst the COVID-19 crisis, when the entire supply chain is at the brink of complete mayhem, the emerging markets manufacturers, a key component of the supply chain, are also facing the brunt with ever diminishing demands. The diminishing state of the EM manufacturers started ahead of the coronav...