Michael Evan Avidon Named 2022 Letter of Credit Lawyer of the Year
The Institute of International Banking Law & Practice (IIBLP) has named Moses & Singer LLP Partner Michael Evan Avidon as
Live from Dubai … ICC UAE Hosts Global Trade Facilitation Summit
The 2022 Global Trade Facilitation Summit, a two-day event providing opportunity for international trade, finance, and business professionals to re-connect
Bangladesh Bank LC Settlements Jump 50%
According to figures released by Bangladesh Bank, the country’s central bank, settlement of import LCs jumped nearly 50% to
Egyptian Banks Report LC Openings up 87%
Egyptian banks opened LCs worth USD 11.6 billion over a six-week stretch from 1 March to mid- April 2022
Majority of Jets Leased to Russia Remain Unrecovered
Foreign leasing companies which have supplied Russia’s airline industry with more than half of its 980 aircraft fleet recovered “only a fraction” of the jets
Trade Lens’ eBL Solution to be Integrated into Bolero’s Galileo Platform
Trade Lens’ eBL Solution to be Integrated into Bolero’s Galileo Platform
Sri Lanka Gov Purchased Coal from Russian Trader
According Reuters reporting, a Sri Lankan government official has affirmed that the country has purchased two cargoes of 60,000
Use of Performance Bonds Increasing in Tanzania
A report by Clyde & Co Partner Tenda Msinjili and Associate Amreen Ayub suggests that use of performance bonds in
FATF Updates Its Listing of Jurisdictions Under Increased Monitoring
The Financial Action Task Force (FATF) identified 23 jurisdictions under increased monitoring in October 2021 which are actively working with
SWIFT Disconnects Designated Russian, Belarusian Entities from Network
In compliance with applicable sanctions laws and conforming to legal instructions issued by the European Union, SWIFT disconnected selected banks from its financial messaging services in March 2022.
FinCEN Alerts of Possible Russian Sanctions Evasion Tries
US Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an Alert on 7 March 2022, advising financial institutions (FIs) to be vigilant against efforts to evade sanctions.
European Banks Boost Support of “Top-Tier” Commodity Traders
Research conducted by Fitch Ratings suggests that European banks appear to be increasing lending to commodity trading firms facing extraordinary liquidity needs due to fierce commodity price volatility.