Trade Facilitation Programme holds annual information session
The EBRD Trade Facilitation Programme (TFP) has honoured its most successful partner banks in 2017 in an award ceremony at the Bank’s Annual Meeting and Business Forum in Jordan today.
Prizes were awarded to:
The ceremony was attended by the Governor of the Central Bank of Jordan, Ziad Fareez and hosted by Nick Tesseyman, EBRD Managing Director, Financial Institutions, and supported by David Yung-Lo Lin, Taipei Representative Office in the UK.
Mr Tesseyman said: “Trade finance is an essential part of fostering economic development and growth. It is our partner banks who make progress happen by providing the financial means that allow companies to explore and conquer new markets. The EBRD is proud to be associated with this and our awards today are an expression of our recognition and appreciation.”
The awards ceremony marked the end of the information session of the EBRD’s Trade Facilitation Programme. The event attracted over 250 representatives from issuing and confirming banks under TFP as well as decision-makers in trade finance to discuss industry challenges with leading specialists including regulators.
The information session was opened with welcome speeches from the event sponsors, Jordan Ahli Bank, Housing Bank for Trade and Finance and Cairo Amman Bank.
The focus of discussions was on new challenges such as the rising cost of complying with anti-money laundering (AML) and know-your-customer (KYC) regulations. Experts discussed the impact of de-risking in trade finance, streamlining and reducing KYC costs and the potential and future trends in AML and KYC. The EBRD TFP team presented its action plan to address current industry challenges and support partner banks with mastering these new tests.
Speakers included Jens Fürhoff, Head of the Anti-Money-Laundering Department, Federal Financial Supervisory Authority, Germany; Maher Sheik Hasan, Deputy Governor and Vice Chairman of the Board of Directors, Central Bank of Jordan; Olivier Paul, Head of Policy, ICC Banking Commission; and Nour Jarrar, CEO, Citibank Jordan.
Presentations by Marc Auboin from the World Trade Organization; Vincent O’Brien from the International Chamber of Commerce; and Rudolf Putz, EBRD Associate Director and Head of the Trade Facilitation Programme, provided an update on trade and trade finance statistics as well as the latest trends and challenges in the industry with an outlook for the rest of year.
The event concluded with a dinner reception hosted by Bank al Etihad where international attendees had the opportunity to enjoy traditional Jordanian hospitality while making new business contacts in the region.
Launched in 1999, the EBRD’s Trade Facilitation Programme aims to promote foreign trade to, from and among the countries in which the EBRD invests. Through the programme, the EBRD provides guarantees to international confirming banks and short-term loans to selected banks and factoring companies for on-lending to local exporters, importers and distributors. The TFP currently includes 94 partner banks in 26 countries, with limits exceeding €1.5 billion in total and more than 800 confirming banks worldwide.
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