DCW Updates

Standard Chartered, Truist Bank Form Trade Finance Partnership

Standard Chartered, Truist Bank Form Trade Finance Partnership to allow their customers to conduct global business more efficiently.

ICC Banking Commission Expands Technical Advisory Team

Following revision of its Terms of Reference for handling the technical side of its work, the ICC Banking Commission announced the confirmation of Ms. Farideh Tazhibi of ICC Iran and Mr. Jin Saibo of ICC China as Technical Advisors.

Citi Token Services for Trade Finance Introduced

Fishing Trawlers on B/Ls: A Quandary for Some Bankers

ICC Draft Opinions for October 2023 Meeting Released

LCs Added as Financing Option for US DoD Foreign Military Sales

Vesttoo Submits Report Detailing Probe of LC Fraud Allegations

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.