NEWS FROM SEARC - SINGAPORE EVENT

ITFA is very pleased to report upon a highly successful inaugural Trade Finance Symposium in Singapore on 9 November for the South East Asia Regional Committee (SEARC), jointly organised by Bank of China Singapore Branch and ITFA. It was a well-attended event, with over 80 attendees from more than 50 banks and other institutions.

The symposium started with an address by Mr Deng Lei, Assistant General Manager and Assistant Country Head for Bank of China (hereafter “BOC”) Singapore Branch, discussing the links between BOC and Singapore and the wider ASEAN markets, as well as the continuing internalisation of the RMB and the opportunities therein.

There were several other BOC speakers at the event, including Mr Zhang Mei, Mr Ai Hao and Ms Sophie Zhong Fei, who covered a range of topics, including the evolution of trade finance, discussions on forfaiting and changes in the financial markets.

The keynote speakers were Dr Duvvuri Subbarao (former Governor of the Reserve Bank of India) and Mr Tan Kah Chye (CEO of Tin Hill Capital) who gave very interesting speeches, respectively on the economy and future regulatory changes.

Paul Coles, Head of Trade Risk Distribution, EMEA at Bank of America Merrill Lynch and ITFA Board Member (Head of Market Practice) and Chris Hall, Head of Trade Asset Management for Lloyds Bank’s Global Transaction Banking and ITFA Board Member (Head of Young Professionals) delivered a presentation to the audience on ITFA’s activities, including educational seminars, mentorship forums and the work we undertake for our members on market practices and our liaison work with BAFT, ICC and other industry bodies.

Most importantly, our market is collaborative by its very nature, and bringing key participants together is an important part of our Association’s role. It was therefore very rewarding to hear that the Symposium was very well received by the attendees, who were delighted to see a dedicated distribution event in the region. Discussions are already underway about repeating the Symposium in the future.

ITFA would like to thank both Bank of China Singapore Branch and the SEARC for their work in organizing the Symposium and we are particularly grateful to Sophie Zhong Fei and her team for their individual efforts.

To view photos of the event, please click here.