Christopher Byrnes

Report: Russia Seeks Reversion to Paper LCs with India

As an alternative to use of SWIFT for the sending of letters of credit, the Bank of Russia and Reserve

Bangladesh MCCI: Control Importing of Goods

Citing inflation as a major challenge in the coming months, Bangladesh’s Metropolitan Chamber of Commerce and Industry (MCCI) recommended

GSBN Announces B/L Data Enhancements

Global Shipping Business Network (GSBN), a technology consortium building blockchain- enabled operating systems geared toward global trade, announced two new

Impact of Singapore’s Code of Best Practices Has Been Varied

It has been more than 18 months since the Association of Banks in Singapore (ABS) published the “Code of Best

ICC Draft Opinion for July 2022 Meeting Released

One Draft Opinion will be discussed at the ICC Banking Commission’s next quarterly virtual meeting in July 2022. The

India Abruptly Imposes Wheat Export Ban

Reversing course from a previous statement, the Indian government announced it is banning wheat exports. Only wheat exports backed by

UK Steps Up Digitialisation of Trade Effort

ICC United Kingdom, supported by the Tees Valley in the north of England, has launched the Centre for Digital Trade

Greek Bank Denied Insurance Claim on Ship Detained by Venezuela

The UK High Court of Justice, Queen’s Bench Division Commercial Court has ruled against a Greek bank in its

STI Orchard Case Tied to Hin Leong Debacle Merits Further Investigation

In The “STI Orchard”, an in rem admiralty action, the High Court of Singapore denied a financing bank’s motion

Real World Scenario: Confirmation & Sanctions

Nepal Ban on Luxury Goods May Increase Counterfeits

An April 2022 government-imposed ban on imported goods categorized as luxury items intended to curb the outflow of dwindling foreign

Sri Lanka Seeks Coal, but no LCs to Back Sales

Sri Lanka’s Power and Energy Minister has sought Cabinet approval for emergency purchases of coal, but importers have been informed by People’s Bank that it is not possible to open LCs.