News

News Categories
Recent News

News by Month

TradeFinance.Training - new training modules released

22/03/2017

I am pleased to announce the release of our latest set of modules on our highly popular on-line training website www.tradefinance.training

Islamic Banking and Trade Finance is one of the major growth areas today. Our two modules provide an insight into the history and development of Islamic Trade Finance and the financing tools that are available for banks today.

Further details of these and our other training modules can be found in our brochure TradeFinance Training - On Line Training Brochure.pdf 


Back to recent news

Recent News

Spurious Emails 24/11/2025

There appears to be some spam messages circulating apparently from an email address                                      no-reply@collyerconsulting...more

Autumn 2025 Newsletter added to the Members Trade Information section 31/10/2025

This newsletter covers the 6 opinions that were approved by the ICC Banking Commission on 21 October...more

Latest Question

This is continuation of earlier question resubmitting the question as nominated bank had added its confirmation to the LC. We had issued a credit which was confirmed by a nominated bank under which the beneficiary presented documents, and we (issuing bank) duly provided acceptance. Based on our acceptance and under confirming bank authority, the beneficiary bank may also have extended financing to their customer. Subsequently, during the tenor period, it was identified that one of the notify parties involved in the transaction had been added to a sanctions list. As the issuing bank, we immediately informed the beneficiary bank that we would not be able to make the payment due to the involvement of a sanctioned entity. The beneficiary bank then applied to OFAC for a specific licence to receive the payment. After the licence was granted and shared with us, and upon obtaining the necessary internal approvals and confirmation from our correspondent bank involved in the settlement, we proceeded with the payment. The amount has since been credited to the beneficiary. The beneficiary bank (confirming bank) has now raised an interest claim for the delay. Request your confirmation on whether this interest claim can be considered. In this case, the applicant was always willing to make the payment. The delay arose solely due to sanctions-related restrictions, because of which the issuing bank was legally unable to process the payment until the OFAC license was obtained. Hence, the applicant is not inclined to bear the interest cost.