Since a draft was included in the presentation at issue in ICC Opinion TA.948, it prompts important questions about examination not only under UCP but also under bills of exchange law.
Iqbal Karmally, former Head of Trade Finance at an Islamic bank in UAE, is a Pakistan-based freelance trainer specializing in both conventional and Islamic trade finance.
Pakistan has embarked on an ambitious multi-year plan to transform its financial system into a Shariah-compliant framework by 2028. Two trade finance specialists explain what this entails and the inherent challenges and opportunities it presents.
