Christopher Byrnes

Nigeria and Russia to Deal for Fertiliser Raw Materials

In spite of the ongoing Russia-Ukraine war, Nigeria has re-established its link with Russia for potassium and will

Pakistan Banks Require Approval Prior to Financing Imports

State Bank of Pakistan (SBP) is requiring all banks to seek prior approval before financing imports.

Afreximbank Reports 30% Increase in LCs in 2021

Year-end 2021 financial results released by African Export-Import Bank (Afreximbank)

Nepali banks to "discourage" Import LCs following "verbal directive" from central bank

Nepali banks said they would follow a “verbal directive” from Nepal Rastra Bank (central bank) to “discourage” traders from opening

Singapore Still Dealing with Hin Leong Fallout

Two years after news of the Hin Leong Trading debacle surfaced and fraud in the commodity trading sector came to light, repercussions are still being felt.

Egypt Facing Higher Wheat Costs

One of the world’s largest importers of wheat, Egypt is facing substantially higher costs for the product for which

Bangladesh: Partnership with Visa for Domestic Settlements

Eastern Bank Ltd. has announced its partnership with Visa Worldwide Pte. Ltd. to offer trustee services towards domestic settlement obligations

Myanmar: Energy companies abandoning gas project

Energy companies TotalEnergies and Chevron are abandoning a gas project in Myanmar.

India: Arbitration appeal dismissed in ARSS-SIPS v. Union of India

The High Court of Chhattisgarh, Bilaspur, has dismissed an arbitration appeal against a commercial court order, rejecting an application to enjoin payment of a performance bank guarantee.

Ukraine Trade Finance Business a Healthy USD 3.4b

UAE Central Bank Fines Unnamed UAE Bank for Poor AML Systems

The Central Bank of the UAE (CBUAE) has assessed a AED 19.5 million (USD 5.3m) financial sanction on UAE bank for poor AML / Sanctions systems

Bangladesh Bank Requires Back-to-Back LC Reporting

BANGLADESH: Bangladesh Bank, the central bank, issued a circular regarding banks’ duty to report required data of back-to-back