Equador Cautions Trafigura of Russian Origin Diesel Discharge
Petroecuador, Ecuador’s state oil company, has cautioned Trafigura Group about avoiding importing fuel of Russian origin after the commodity trader reportedly “finished discharging a cargo of mostly Russian diesel at the Ecuadorian port of Esmeraldas”
IMF Funds USD 1.1b to Pakistan
Following its review under the Extended Fund Facility (EFF) for Pakistan, the International Monetary Fund (IMF) announced on 29 August an immediate disbursement of USD 1.1b in financial assistance to Pakistan.
Does Air Waybill Satisfy “Any Airport in China” LC Requirement?
In a recent discussion, US west coast bankers considered a Commercial Export LC indicating in SWIFT Field 44F: “Port of
FATF Releases Latest Listing of Jurisdictions Under Increased Monitoring
In its June 2022 list of jurisdictions under increased monitoring, the Financial Action Task Force (FATF) identified 23 jurisdictions with
ICC Briefing Addresses Topic of Reducing Discrepancy Rates
In the latest of its ongoing series of technical advisory briefings released on 27 June 2022, the ICC Banking Commission addressed the subject of “Reducing Discrepancy Rates under Documentary Credits” (TAB-3)
On Board Dates and Issuance Dates
Another scenario discussed in the meeting of US west coast bankers centered around a commercial LC requiring under 46A: 1.
India Imposes Additional Measures to Detect Improper LC Documents
In a move to curb use of ante-dated LC documentation to circumvent Indian law banning wheat exports, India’s Directorate
Pakistan: Additional Support for Oil LCs
Prime Minister Shehbaz Sharif has promised that the Pakistani government will intervene on behalf of oil refineries facing potential shutdown
Attacking LC Fraud a Top Goal for India’s Blockchain-Based Project
Stung by the massive letter of credit scandal committed against Punjab National Bank (Feb 2018 DCW 44), India’s central
BAFT 2022 Global Annual Meeting: Executive Summary
In the 100th year of its organizational existence, BAFT conducted its Global Annual Meeting on 1-4 May 2022 in Washington, DC, as a hybrid event to accommodate in-person and virtual attendees. The conference began with a gala dinner to mark the centennial celebration.
Bangladesh and Vessel / Container Tracking
Bangladesh Bank’s Foreign Exchange Policy Department (FEPD) issued FE Circular No. 09 (17 May 2022) to its Authorized Dealer