Pakistan Senate Bill Pushes against Discrimination of PEPs
Pakistan’s Senate unanimously approved a bill in 2022 that envisages punishments for bank and financial institution executives who discriminate against politically exposed persons (PEPs).
Latest ICC Draft Opinions Released for April 2022 Meeting
The ICC Banking Commission has released three Draft Opinions that will be discussed at its next opinion review session that
Non-Bank LC Issuance: Concerns Linger
Because of widespread interest on the subject, the ICC Banking Commission issued ICC Opinion TA537 (2002) on when a non-bank
Russian Oil Buyers Unable to Obtain LCs, Banks Back Off
According to multiple trading sources cited by Reuters, at least three major buyers of Russian oil have been unable to open letters of credit from unnamed “Western banks” to cover purchases on 24 February 2022.
Singapore Banking Community Mourns Loss of De Silva
Singapore Banking Community Mourns Loss of Lionel De Silva
US Federal Home Loan Banks Release 2021 Data
The US Federal Home Loan Bank (FHLBank) system each released in February 2022 their unaudited financial results for year-end 2021.
January 2022 ABA/ABA Financial Crimes Enforcement Conference: Executive Summary
The American Bar Association and the American Bankers Association (ABA) jointly hosted their 33rd Financial Crimes Enforcement Conference as a virtual event, 11-13 January 2022.
New SWIFT Changes Built to Support More Precise Usage
A long time banker shares insights on his observations and experiences with the major upgrade to the SWIFT 760 (guarantees/standby LCs) series of message types that took effect in November 2021.
Lin Named Partner at Rajah & Tann
Singapore attorney Nathanael Lin Named equity Partner at Rajah & Tann and will cover shipping, commodities and trade finance.
NY Supreme Court Grants Summary Judgment to BNP
The Supreme Court of New York issued decisions granting summary judgment to BNP Paribas for more than USD 46 million plus interest against Natixis.
ICC Technical Advisory Briefing No. 1 (TAB-1) - on Non-Documentary Conditions
The ICC Banking Commission released its “Technical Advisory Briefing No. 1” on the topic of Non-Documentary conditions in Documentary Credits subject to UCP 600.
Sri Lanka: Importers now Insisting on Confirmed LCs
As the country’s foreign exchange shortage worsens, regular suppliers of imports who previously extended credit terms are now insisting on confirmed LCs.