Meeting the G7's 2X Challenge Criteria
Launched at the G7 Summit in 2018, the 2X Challenge is an initiative to elevate gender lens investments, including enhanced access to finance and business leadership opportunities for women.
ICC & Swift Release API Standards for Guarantees & Standbys
The ICC announced on 13 August 2023 release of the first application programming interface (API) industry standards for bank guarantees
Nigeria Reports Drop in LCs for 2Q23
Although letter of credit payments of USD 841.21 million for the first half of 2023 were 12.3% higher
Investigations Expand into Vesttoo LC Fraud Allegations
The US Federal Bureau of Investigation’s (FBI) has reportedly begun its own probe into allegedly fraudulent letters of credit
UK’s E-Trade Documents Act Finalised, Industry Action Now Needed
UK Electronic Trade Documents Act 2023 was enacted on 20 July 2023. Here's what needs to happen next.
Pakistani Banks Required to Arrange USDs for Import LCs
State Bank of Pakistan (SBP), the country’s central bank, has lifted restrictions on Pakistani banks opening letters of credit
Broadband Providers Push Back against US Gov LC Requirement
A coalition of internet service providers, broadband associations, and digital equity advocates in the US are challenging a requirement that applicants for federal broadband funding must furnish a letter of credit in order to receive funds.